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 Warby Parker stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $25.94, for a total value of $129,700.00. Following the transaction, the director directly owned 48,883 shares in the company, valued at approximately $1,268,025.02. This trade represents a 9.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Warby Parker Stock Down 0.1%

Shares of WRBY stock opened at $25.95 on Friday. The stock has a market capitalization of $2.78 billion, a PE ratio of 1,298.00 and a beta of 1.96. The stock’s 50-day moving average price is $24.78 and its 200 day moving average price is $24.51. Warby Parker Inc. has a 52-week low of $14.96 and a 52-week high of $31.00.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $242.45 million for the quarter, compared to analysts’ expectations of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Analysts expect that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

WRBY has been the topic of several recent analyst reports. BTIG Research increased their target price on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. 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. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. UBS Group boosted their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Telsey Advisory Group upped their target price on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently added to or reduced their stakes in WRBY. JPMorgan Chase & Co. raised its holdings in Warby Parker by 40.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after buying an additional 2,120,768 shares during the period. Udine Wealth Management Inc. bought a new position in shares of Warby Parker in the 4th quarter valued at approximately $1,284,000. Kingdon Capital Management L.L.C. acquired a new position in Warby Parker during the 3rd quarter worth $9,653,000. Vanguard Group Inc. lifted its holdings in shares of Warby Parker by 3.2% during the third quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after buying an additional 327,830 shares during the last quarter. Finally, Compass Wealth Management LLC bought a new position in Warby Parker during the third quarter worth $2,184,000. 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.