Warby Parker (NYSE:WRBY) Director Sells $265,300.00 in Stock

Warby Parker Inc. (NYSE:WRBY) Director Youngme Moon sold 10,000 shares of Warby Parker stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.53, for a total transaction of $265,300.00. Following the completion of the transaction, the director owned 26,061 shares in the company, valued at approximately $691,398.33. This trade represents a 27.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Warby Parker Trading Up 1.8%

Shares of WRBY traded up $0.46 during mid-day trading on Friday, reaching $26.32. The company had a trading volume of 2,215,817 shares, compared to its average volume of 3,097,442. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 1,316.86 and a beta of 1.96. The firm has a fifty day simple moving average of $24.21 and a 200-day simple moving average of $24.28. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00.

Warby Parker (NYSE:WRBY) last announced its quarterly 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 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 revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 EPS. As a group, equities analysts predict that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds have recently made changes to their positions in WRBY. AQR Capital Management LLC raised its stake in shares of Warby Parker by 101.0% in the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after acquiring an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 acquiring an additional 2,297 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of 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 acquiring an additional 929,073 shares during the period. Caxton Associates LLP purchased a new position in shares of Warby Parker in the 1st quarter valued at $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 acquiring an additional 38,395 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WRBY. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a report on Friday, May 22nd. UBS Group raised their target price on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Telsey Advisory Group raised their target price on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.50.

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.