Warby Parker (NYSE:WRBY) CEO Sells $6,445,119.87 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 217,667 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $29.61, for a total value of $6,445,119.87. Following the transaction, the chief executive officer directly owned 31,112 shares in the company, valued at $921,226.32. This trade represents a 87.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Monday, June 29th, Neil Harris Blumenthal sold 36,300 shares of Warby Parker stock. The shares were sold at an average price of $30.04, for a total value of $1,090,452.00.
• 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 stock was 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 shares were sold at an average price of $24.56, for a total transaction 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 Stock Down 0.7%

Shares of Warby Parker stock traded down $0.20 during mid-day trading on Thursday, hitting $29.18. The stock had a trading volume of 2,157,410 shares, compared to its average volume of 3,849,805. The firm has a 50-day moving average of $25.71 and a two-hundred day moving average of $24.89. The firm has a market cap of $3.12 billion, a P/E ratio of 1,459.48, a price-to-earnings-growth ratio of 5.87 and a beta of 1.91. Warby Parker Inc. has a 12-month low of $14.96 and a 12-month high of $31.00.

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

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently modified their holdings of WRBY. JPMorgan Chase & Co. lifted its holdings in shares of Warby Parker by 32.5% in the 4th quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock valued at $210,907,000 after buying an additional 2,375,726 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of Warby Parker by 31.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company’s stock worth $63,806,000 after purchasing an additional 722,627 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Warby Parker by 17.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,594,171 shares of the company’s stock worth $56,527,000 after purchasing an additional 381,071 shares during the period. State Street Corp increased its holdings in shares of Warby Parker by 9.2% in the 4th quarter. State Street Corp now owns 2,408,610 shares of the company’s stock valued at $52,484,000 after purchasing an additional 202,029 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Warby Parker by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,297,123 shares of the company’s stock valued at $50,064,000 after purchasing an additional 11,736 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WRBY. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group boosted their target price on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Piper Sandler restated an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Bank of America began coverage on Warby Parker in a research report on Monday. They set a “buy” rating and a $33.00 price target on the stock. Finally, Telsey Advisory Group increased their price objective on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.