Rent the Runway, Inc. (NASDAQ:RENT) CEO Sells $61,270.00 in Stock

Rent the Runway, Inc. (NASDAQ:RENT) CEO Jennifer Hyman sold 6,127 shares of Rent the Runway stock in a transaction on Monday, September 16th. The stock was sold at an average price of $10.00, for a total transaction of $61,270.00. Following the sale, the chief executive officer now directly owns 148,088 shares of the company’s stock, valued at approximately $1,480,880. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, August 5th, Jennifer Hyman sold 4,544 shares of Rent the Runway stock. The stock was sold at an average price of $11.96, for a total value of $54,346.24.

Rent the Runway Stock Performance

Shares of NASDAQ:RENT opened at $9.90 on Friday. Rent the Runway, Inc. has a 12 month low of $4.46 and a 12 month high of $41.81. The company’s fifty day simple moving average is $13.15 and its 200 day simple moving average is $14.82.

Rent the Runway (NASDAQ:RENT) last released its quarterly earnings results on Thursday, September 5th. The company reported ($4.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($5.86) by $1.69. The firm had revenue of $78.90 million during the quarter, compared to analyst estimates of $76.60 million. During the same period in the prior year, the business earned ($8.00) EPS. Sell-side analysts expect that Rent the Runway, Inc. will post -19.08 EPS for the current year.

Institutional Investors Weigh In On Rent the Runway

Several institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new position in shares of Rent the Runway during the 2nd quarter worth approximately $308,000. Meeder Asset Management Inc. acquired a new position in Rent the Runway during the second quarter worth $33,000. Summit Securities Group LLC bought a new position in Rent the Runway in the second quarter valued at $86,000. CastleKnight Management LP increased its stake in Rent the Runway by 304.9% in the 4th quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock valued at $288,000 after buying an additional 411,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Rent the Runway during the 2nd quarter worth about $131,000. Institutional investors own 73.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on RENT shares. JMP Securities upped their price objective on Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, June 7th. Jefferies Financial Group decreased their price target on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating for the company in a report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.86.

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.