Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 63,040 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 63,040 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $30.03, for a total transaction of $1,893,091.20. Following the completion of the transaction, the chief executive officer owned 50,165 shares in the company, valued at approximately $1,506,454.95. This represents a 55.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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, 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 transaction 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 Performance

Warby Parker stock opened at $24.52 on Friday. The firm has a market cap of $2.63 billion, a PE ratio of 1,226.76 and a beta of 1.95. The firm’s 50 day moving average price is $23.67 and its two-hundred day moving average price is $23.54. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.08). The company had revenue of $242.45 million during the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 EPS. Equities analysts anticipate that Warby Parker Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WRBY has been the topic of several analyst reports. Weiss Ratings upgraded shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Telsey Advisory Group increased their target price on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research report on Tuesday. UBS Group increased their target price on shares of Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, BTIG Research increased their target price on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently modified their holdings of WRBY. AQR Capital Management LLC lifted its stake in shares of Warby Parker by 101.0% in the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after buying an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Warby Parker by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock valued at $961,000 after buying an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after buying an additional 929,073 shares during the last quarter. Caxton Associates LLP acquired a new stake in Warby Parker in the 1st quarter valued at approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Warby Parker by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after buying an additional 38,395 shares during the last quarter. 93.24% of the stock is currently 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.