Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 9,200 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 9,200 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $29.99, for a total value of $275,908.00. Following the sale, the chief executive officer owned 31,112 shares of the company’s stock, valued at $933,048.88. The trade was a 22.82% decrease in their position. The sale 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 Wednesday, July 1st, Neil Harris Blumenthal sold 217,667 shares of Warby Parker stock. The shares were sold at an average price of $29.61, for a total transaction of $6,445,119.87.
• On Monday, June 29th, Neil Harris Blumenthal sold 36,300 shares of Warby Parker stock. The shares were sold at an average price of $30.04, for a total transaction of $1,090,452.00.
• On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The shares were sold at an average price of $30.03, for a total transaction of $1,893,091.20.
• On Monday, April 20th, Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock. The stock was 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 stock was 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 Trading Down 1.1%

NYSE:WRBY opened at $27.73 on Thursday. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 1,387.44, a PEG ratio of 5.60 and a beta of 1.91. The firm’s fifty day simple moving average is $26.13 and its 200 day simple moving average is $24.94.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS 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 analysts’ expectations of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. On average, analysts predict that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America initiated coverage on Warby Parker in a research report on Monday, June 29th. They set a “buy” rating and a $33.00 price target on the stock. UBS Group increased 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. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. 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. Finally, Telsey Advisory Group boosted 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. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.82.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Udine Wealth Management Inc. purchased a new stake in Warby Parker during the 4th quarter worth approximately $1,284,000. Kingdon Capital Management L.L.C. purchased a new position in shares of Warby Parker during the 3rd quarter valued at approximately $9,653,000. Natixis Advisors LLC boosted its stake in shares of Warby Parker by 13.1% during the 3rd quarter. Natixis Advisors LLC now owns 410,540 shares of the company’s stock valued at $11,323,000 after buying an additional 47,536 shares during the last quarter. TimesSquare Capital Management LLC grew its position in shares of Warby Parker by 34.2% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,353,554 shares of the company’s stock worth $29,494,000 after buying an additional 344,879 shares in the last quarter. Finally, Primoris Wealth Advisors LLC acquired a new stake in shares of Warby Parker during the fourth quarter worth approximately $1,781,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.