Neil Harris Blumenthal Sells 36,300 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 36,300 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $30.04, for a total value of $1,090,452.00. Following the completion of the transaction, the chief executive officer owned 59,459 shares in the company, valued at approximately $1,786,148.36. The trade was a 37.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The stock was sold at an average price of $30.03, for a total value of $1,893,091.20.
• On Monday, April 20th, Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total value of $563,069.78.
• On Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The stock was sold at an average price of $24.56, for a total value of $1,847,231.28.
• On Thursday, April 16th, Neil Harris Blumenthal sold 2,345 shares of Warby Parker stock. The shares were sold at an average price of $24.08, for a total transaction of $56,467.60.

Warby Parker Price Performance

WRBY stock traded down $0.86 during mid-day trading on Wednesday, reaching $29.48. 2,922,903 shares of the company traded hands, compared to its average volume of 3,248,375. The company has a fifty day moving average price of $25.55 and a 200-day moving average price of $24.88. The company has a market capitalization of $3.16 billion, a P/E ratio of 1,474.64 and a beta of 1.96. Warby Parker Inc. has a 52-week low of $14.96 and a 52-week high of $31.00.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts forecast that Warby Parker Inc. will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Corp raised its holdings in shares of Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after buying an additional 595 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Warby Parker by 105.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock worth $28,000 after purchasing an additional 673 shares during the period. Eagle Bay Advisors LLC bought a new stake in Warby Parker in the fourth quarter worth $35,000. Farther Finance Advisors LLC lifted its stake in Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after purchasing an additional 494 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $39,000 after buying an additional 965 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WRBY. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Piper Sandler restated an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Telsey Advisory Group lifted their price target on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Bank of America initiated coverage on Warby Parker in a report on Monday. They set a “buy” rating and a $33.00 price objective for the company. Finally, BTIG Research boosted their price objective on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Warby Parker has a consensus rating of “Moderate Buy” and an average price target of $29.82.

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.