Rent the Runway, Inc. (NASDAQ:RENT) CEO Sells $56,488.00 in Stock

Rent the Runway, Inc. (NASDAQ:RENT) CEO Jennifer Hyman sold 4,600 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.28, for a total transaction of $56,488.00. Following the completion of the transaction, the chief executive officer now owns 164,884 shares in the company, valued at approximately $2,024,775.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jennifer Hyman also recently made the following trade(s):

• On Monday, March 18th, Jennifer Hyman sold 7,770 shares of Rent the Runway stock. The stock was sold at an average price of $7.00, for a total value of $54,390.00.

Rent the Runway Stock Performance

Shares of NASDAQ RENT opened at $15.23 on Wednesday. The firm’s 50-day simple moving average is $9.16 and its 200 day simple moving average is $10.71. The stock has a market cap of $55.89 million, a price-to-earnings ratio of -0.46 and a beta of 0.49. Rent the Runway, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $58.00.

Rent the Runway (NASDAQ:RENT) last announced its earnings results on Wednesday, April 10th. The company reported ($5.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($5.80) by ($0.03). The company had revenue of $75.80 million during the quarter, compared to the consensus estimate of $74.50 million. On average, sell-side analysts predict that Rent the Runway, Inc. will post -20.2 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RENT shares. Piper Sandler reiterated a “neutral” rating and issued a $15.00 target price (down from $40.00) on shares of Rent the Runway in a report on Wednesday, January 17th. Wells Fargo & Company reiterated an “equal weight” rating and set a $12.00 target price on shares of Rent the Runway in a research report on Tuesday, January 16th. JMP Securities reduced their price target on shares of Rent the Runway from $40.00 to $20.00 and set a “market outperform” rating for the company in a report on Thursday, April 11th. Finally, The Goldman Sachs Group dropped their price objective on shares of Rent the Runway from $40.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Rent the Runway currently has a consensus rating of “Hold” and a consensus target price of $31.88.

Institutional Trading of Rent the Runway

Several institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in shares of Rent the Runway by 119.2% during the third quarter. Commonwealth Equity Services LLC now owns 55,250 shares of the company’s stock valued at $38,000 after purchasing an additional 30,050 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in Rent the Runway in the 3rd quarter valued at about $46,000. Landscape Capital Management L.L.C. purchased a new position in shares of Rent the Runway in the 3rd quarter worth approximately $66,000. Breed s Hill Capital LLC purchased a new position in shares of Rent the Runway in the 4th quarter worth approximately $53,000. Finally, CastleKnight Management LP increased its position in shares of Rent the Runway by 304.9% during the fourth quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock valued at $288,000 after acquiring an additional 411,000 shares during the last quarter. Institutional investors own 73.10% of the company’s stock.

About Rent the Runway

Rent the Runway, Inc operates shared designer closet in the United States. The company offers evening wear and accessories, ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, and ski wear under subscription, rental, and resale offering.