Youngme Moon Sells 10,000 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) Director Youngme Moon sold 10,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.53, for a total transaction of $265,300.00. Following the completion of the transaction, the director directly owned 26,061 shares of the company’s stock, valued at approximately $691,398.33. This trade represents a 27.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Warby Parker Price Performance

Warby Parker stock traded up $0.46 during mid-day trading on Friday, reaching $26.32. The company had a trading volume of 2,215,817 shares, compared to its average volume of 3,097,442. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00. The company has a market capitalization of $2.82 billion, a P/E ratio of 1,316.86 and a beta of 1.96. The stock’s 50-day simple moving average is $24.21 and its 200-day simple moving average is $24.28.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The company had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $0.03 earnings per share. On average, equities analysts forecast that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WRBY has been the topic of several research reports. Weiss Ratings upgraded shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. BTIG Research increased their price target on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Telsey Advisory Group increased their price target on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Institutional Trading of Warby Parker

Several hedge funds and other institutional investors have recently bought and sold shares of WRBY. JPMorgan Chase & Co. grew its stake in Warby Parker by 32.5% in the 4th quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock worth $210,907,000 after acquiring an additional 2,375,726 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in Warby Parker in the 4th quarter worth approximately $46,484,000. SRS Investment Management LLC purchased a new stake in Warby Parker in the 4th quarter worth approximately $31,277,000. Goldman Sachs Group Inc. grew its stake in Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after acquiring an additional 929,073 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Warby Parker by 71.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,078,778 shares of the company’s stock worth $45,298,000 after acquiring an additional 865,345 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.