Teresa Briggs Sells 5,000 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) Director Teresa Briggs sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $25.94, for a total transaction of $129,700.00. Following the completion of the transaction, the director directly owned 48,883 shares of the company’s stock, valued at approximately $1,268,025.02. This represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Warby Parker Price Performance

Shares of WRBY stock traded up $1.73 during trading hours on Thursday, reaching $25.95. 18,817,477 shares of the company were exchanged, compared to its average volume of 3,240,975. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The stock’s fifty day moving average is $24.59 and its two-hundred day moving average is $24.45. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 1,298.00 and a beta of 1.96.

Warby Parker (NYSE:WRBY) last posted 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). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. During the same quarter last year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts anticipate that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

WRBY has been the subject of a number of recent research reports. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. UBS Group raised their price target on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. BTIG Research lifted 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. Citigroup restated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WRBY. Parallel Advisors LLC increased its holdings in Warby Parker by 110.7% in the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $39,000 after purchasing an additional 965 shares during the last quarter. Essential Partners LLC boosted its holdings in Warby Parker by 44.2% during the first quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock worth $54,000 after buying an additional 788 shares during the last quarter. Bank of America Corp DE boosted its holdings in Warby Parker by 30.9% during the first quarter. Bank of America Corp DE now owns 1,377,646 shares of the company’s stock worth $29,027,000 after buying an additional 325,250 shares during the last quarter. Atreides Management LP grew its position in shares of Warby Parker by 74.8% during the 1st quarter. Atreides Management LP now owns 686,995 shares of the company’s stock worth $14,475,000 after buying an additional 293,910 shares during the period. Finally, Amundi acquired a new position in shares of Warby Parker during the 1st quarter worth about $251,000. 93.24% of the stock is currently owned by institutional investors.

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.