Rent the Runway, Inc. (NASDAQ:RENT) SVP Becky Case Sells 907 Shares

Rent the Runway, Inc. (NASDAQ:RENT - Get Free Report) SVP Becky Case sold 907 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.28, for a total value of $11,137.96. Following the completion of the sale, the senior vice president now directly owns 30,379 shares of the company's stock, valued at approximately $373,054.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rent the Runway Stock Performance

Shares of NASDAQ RENT traded up $0.15 during trading on Monday, reaching $14.49. The stock had a trading volume of 245,866 shares, compared to its average volume of 990,661. Rent the Runway, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $58.00. The business's 50-day moving average price is $9.03 and its 200-day moving average price is $10.70. The company has a market cap of $53.18 million, a P/E ratio of -0.44 and a beta of 0.49.

Rent the Runway (NASDAQ:RENT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 10th. The company reported ($5.83) earnings per share for the quarter, missing analysts' consensus estimates of ($5.80) by ($0.03). The firm had revenue of $75.80 million during the quarter, compared to analyst estimates of $74.50 million. Analysts forecast that Rent the Runway, Inc. will post -20.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Rent the Runway

A number of institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. purchased a new position in Rent the Runway in the third quarter valued at $46,000. Commonwealth Equity Services LLC lifted its holdings in shares of Rent the Runway by 119.2% in the 3rd 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 during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Rent the Runway in the 3rd quarter valued at about $66,000. CastleKnight Management LP lifted its holdings in shares of 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 purchasing an additional 411,000 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Rent the Runway in the 4th quarter valued at about $1,568,000. 73.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $12.00 price target on shares of Rent the Runway in a report on Tuesday, January 16th. JMP Securities cut their price target on 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. Piper Sandler reissued a "neutral" rating and set a $15.00 target price (down previously from $40.00) on shares of Rent the Runway in a research note on Wednesday, January 17th. Finally, The Goldman Sachs Group cut their target price on Rent the Runway from $40.00 to $28.00 and set a "buy" rating for the company in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Rent the Runway has a consensus rating of "Hold" and an average price target of $31.88.

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.

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