Insider Selling: Warby Parker (NYSE:WRBY) CEO Sells 150,000 Shares of Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the completion of the sale, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at $931,315.71. The trade was a 80.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 Stock Performance

Warby Parker stock traded up $2.70 during trading on Tuesday, hitting $25.95. The company’s stock had a trading volume of 5,709,473 shares, compared to its average volume of 5,373,160. The stock’s fifty day moving average is $21.41 and its 200 day moving average is $23.44. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 2,595.40 and a beta of 2.05.

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

Institutional Trading of Warby Parker

Several large investors have recently bought and sold shares of WRBY. Farther Finance Advisors LLC boosted its position in Warby Parker by 259.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after buying an additional 861 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Warby Parker by 400.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock worth $35,000 after acquiring an additional 1,281 shares in the last quarter. Huntington National Bank boosted its holdings in Warby Parker by 111.0% in the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after purchasing an additional 881 shares during the last quarter. NewEdge Advisors LLC grew its stake in Warby Parker by 56.7% during the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock valued at $65,000 after purchasing an additional 850 shares in the last quarter. Finally, Anderson Financial Strategies LLC grew its stake in Warby Parker by 39.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company’s stock valued at $72,000 after purchasing an additional 1,109 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WRBY shares. Robert W. Baird set a $35.00 price objective on Warby Parker in a report on Wednesday, December 17th. Wall Street Zen downgraded Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Citigroup upgraded Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. BTIG Research raised their price target on shares of Warby Parker from $25.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Citizens Jmp upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Wednesday, December 10th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Warby Parker presently has a consensus rating of “Moderate Buy” and an average target price of $26.75.

About Warby Parker

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.