Brian Donato Sells 12,681 Shares of Rent the Runway, Inc. (NASDAQ:RENT) Stock

Posted by Defense World Staff on Aug 6th, 2023

Rent the Runway, Inc. (NASDAQ:RENT – Get Free Report) CRO Brian Donato sold 12,681 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $1.67, for a total value of $21,177.27. Following the completion of the transaction, the executive now owns 729,011 shares in the company, valued at approximately $1,217,448.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Brian Donato also recently made the following trade(s):

On Wednesday, July 26th, Brian Donato sold 36,908 shares of Rent the Runway stock. The shares were sold at an average price of $1.82, for a total value of $67,172.56.
On Friday, June 16th, Brian Donato sold 20,154 shares of Rent the Runway stock. The shares were sold at an average price of $2.33, for a total value of $46,958.82.

Rent the Runway Stock Performance

Shares of RENT opened at $1.66 on Friday. The stock’s fifty day moving average price is $2.01 and its two-hundred day moving average price is $2.73. Rent the Runway, Inc. has a 1 year low of $1.10 and a 1 year high of $5.74.

Rent the Runway (NASDAQ:RENT – Get Free Report) last issued its earnings results on Wednesday, June 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.02. The firm had revenue of $74.20 million during the quarter, compared to the consensus estimate of $73.34 million. As a group, analysts forecast that Rent the Runway, Inc. will post -1.74 EPS for the current year.

Hedge Funds Weigh In On Rent the Runway

Several hedge funds have recently made changes to their positions in RENT. Bank of New York Mellon Corp grew its position in shares of Rent the Runway by 58.3% in the first quarter. Bank of New York Mellon Corp now owns 47,941 shares of the company’s stock valued at $331,000 after purchasing an additional 17,655 shares in the last quarter. Rhumbline Advisers grew its position in shares of Rent the Runway by 49.1% in the first quarter. Rhumbline Advisers now owns 17,046 shares of the company’s stock valued at $117,000 after purchasing an additional 5,617 shares in the last quarter. BlackRock Inc. grew its position in shares of Rent the Runway by 9.3% in the first quarter. BlackRock Inc. now owns 1,080,159 shares of the company’s stock valued at $7,443,000 after purchasing an additional 92,172 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of Rent the Runway in the first quarter valued at $4,294,000. Finally, Vanguard Group Inc. grew its position in Rent the Runway by 9.9% during the first quarter. Vanguard Group Inc. now owns 922,194 shares of the company’s stock worth $6,354,000 after buying an additional 83,227 shares in the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RENT has been the topic of a number of recent research reports. Telsey Advisory Group restated an “outperform” rating and issued a $4.00 target price on shares of Rent the Runway in a report on Thursday, April 13th. Raymond James dropped their price target on Rent the Runway from $8.00 to $5.00 in a report on Thursday, June 8th. Barclays lifted their price target on Rent the Runway from $3.00 to $4.00 and gave the stock an “overweight” rating in a report on Thursday, April 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $6.00 price target on shares of Rent the Runway in a report on Thursday, April 13th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Rent the Runway presently has an average rating of “Moderate Buy” and a consensus target price of $4.81.

Rent the Runway Company Profile

(Get Free Report)

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.