Insider Selling: Warby Parker (NYSE:WRBY) Director Sells $140,205.33 in Stock

Warby Parker Inc. (NYSE:WRBY) Director Bradley Singer sold 4,833 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total transaction of $140,205.33. Following the completion of the transaction, the director directly owned 100,000 shares of the company’s stock, valued at approximately $2,901,000. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Warby Parker Trading Up 0.1%

Warby Parker stock opened at $28.75 on Monday. The company has a market cap of $3.08 billion, a P/E ratio of 1,437.97 and a beta of 1.95. Warby Parker Inc. has a 1-year low of $14.96 and a 1-year high of $31.00. The company has a fifty day simple moving average of $23.67 and a 200 day simple moving average of $23.37.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the business posted $0.03 EPS. On average, equities research analysts forecast that Warby Parker Inc. will post 0.24 EPS for the current year.

Institutional Trading of Warby Parker

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

Analysts Set New Price Targets

A number of brokerages have recently commented on WRBY. Citigroup lifted their price objective on shares of Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Telsey Advisory Group lifted their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. UBS Group lifted their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. BTIG Research lifted their price objective on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

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.