Neil Harris Blumenthal Sells 9,200 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 9,200 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $29.99, for a total value of $275,908.00. Following the sale, the chief executive officer directly owned 31,112 shares in the company, valued at $933,048.88. This trade represents a 22.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 Wednesday, July 1st, Neil Harris Blumenthal sold 217,667 shares of Warby Parker stock. The stock was sold at an average price of $29.61, for a total value of $6,445,119.87.
• On Monday, June 29th, Neil Harris Blumenthal sold 36,300 shares of Warby Parker stock. The stock was 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 shares were 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 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 Performance

NYSE:WRBY opened at $29.20 on Friday. The company’s 50-day simple moving average is $26.26 and its 200-day simple moving average is $24.96. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The stock has a market capitalization of $3.13 billion, a P/E ratio of 1,460.48, a P/E/G ratio of 5.53 and a beta of 1.91.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The firm had revenue of $242.45 million for 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 revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. On average, research analysts forecast that Warby Parker Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on WRBY. BTIG Research raised their price objective on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Telsey Advisory Group increased their price target on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. UBS Group raised their price target on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.82.

Hedge Funds Weigh In On Warby Parker

Several hedge funds have recently made changes to their positions in WRBY. Udine Wealth Management Inc. acquired a new stake in shares of Warby Parker during the fourth quarter worth about $1,284,000. Kingdon Capital Management L.L.C. acquired a new position in Warby Parker in the 3rd quarter worth approximately $9,653,000. Natixis Advisors LLC raised its position in Warby Parker by 13.1% during the 3rd quarter. Natixis Advisors LLC now owns 410,540 shares of the company’s stock worth $11,323,000 after buying an additional 47,536 shares during the last quarter. TimesSquare Capital Management LLC raised its position in Warby Parker by 34.2% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,353,554 shares of the company’s stock worth $29,494,000 after buying an additional 344,879 shares during the last quarter. Finally, Primoris Wealth Advisors LLC acquired a new stake in Warby Parker during the 4th quarter valued at approximately $1,781,000. 93.24% of the stock is owned by institutional investors and hedge funds.

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.