Sarah K. Tam Sells 1,960 Shares of Rent the Runway, Inc. (NASDAQ:RENT) Stock

Rent the Runway, Inc. (NASDAQ:RENT) insider Sarah K. Tam sold 1,960 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $8.55, for a total transaction of $16,758.00. Following the transaction, the insider now owns 30,024 shares in the company, valued at $256,705.20. This represents a 6.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rent the Runway Stock Down 7.9 %

NASDAQ RENT traded down $0.69 during trading hours on Wednesday, reaching $8.03. The company’s stock had a trading volume of 71,314 shares, compared to its average volume of 430,594. Rent the Runway, Inc. has a 1 year low of $4.46 and a 1 year high of $41.81. The firm’s 50-day moving average price is $9.97 and its 200-day moving average price is $12.98. The company has a market capitalization of $31.17 million, a price-to-earnings ratio of -0.36 and a beta of 1.18.

Rent the Runway (NASDAQ:RENT) last posted its earnings results on Monday, December 9th. The company reported ($4.94) earnings per share for the quarter, missing the consensus estimate of ($4.45) by ($0.49). During the same quarter in the prior year, the firm earned ($8.86) EPS. Equities research analysts anticipate that Rent the Runway, Inc. will post -18.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new stake in Rent the Runway during the 2nd quarter valued at $308,000. Summit Securities Group LLC acquired a new position in shares of Rent the Runway in the 2nd quarter valued at $86,000. Meeder Asset Management Inc. acquired a new stake in shares of Rent the Runway during the second quarter worth about $33,000. XTX Topco Ltd acquired a new stake in Rent the Runway during the 2nd quarter worth about $293,000. Finally, Point72 DIFC Ltd purchased a new position in Rent the Runway during the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RENT shares. JMP Securities reissued a “market outperform” rating and set a $40.00 price objective on shares of Rent the Runway in a research report on Tuesday, December 10th. Jefferies Financial Group decreased their price objective on Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $24.20.

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.