Warby Parker (NYSE:WRBY) CEO Sells $1,354,000.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total value of $1,354,000.00. Following the transaction, the chief executive officer owned 37,119 shares of the company’s stock, valued at $1,005,182.52. This represents a 57.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Neil Harris Blumenthal also recently made the following trade(s):

• On Tuesday, January 6th, Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total value of $3,763,500.00.
• On Thursday, December 11th, Neil Harris Blumenthal sold 100,000 shares of Warby Parker stock. The shares were sold at an average price of $30.29, for a total value of $3,029,000.00.

Warby Parker Trading Up 0.0%

Shares of NYSE:WRBY traded up $0.00 on Friday, hitting $28.28. The company had a trading volume of 4,371,644 shares, compared to its average volume of 3,740,511. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 2,828.20 and a beta of 2.05. The stock has a 50 day moving average price of $21.90 and a 200 day moving average price of $23.54. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The company had revenue of $221.68 million for the quarter, compared to analyst estimates of $224.49 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. Sell-side analysts anticipate that Warby Parker Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warby Parker

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Warby Parker by 3.2% during the third quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock valued at $294,155,000 after acquiring an additional 327,830 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Warby Parker by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock valued at $201,426,000 after purchasing an additional 2,120,768 shares during the period. Bank of New York Mellon Corp raised its position in Warby Parker by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock worth $57,133,000 after purchasing an additional 884,035 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Warby Parker by 9.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,421,950 shares of the company’s stock worth $66,797,000 after purchasing an additional 205,630 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Warby Parker by 7.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,201,817 shares of the company’s stock worth $48,292,000 after buying an additional 148,847 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WRBY shares. Piper Sandler increased their target price on Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Wednesday, December 10th. Stifel Nicolaus lifted their target price on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Warby Parker in a research report on Monday, December 29th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $32.00 price target on shares of Warby Parker in a research report on Wednesday, December 17th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.75.

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.