Warby Parker (NYSE:WRBY) Stock: Insider Neil Harris Blumenthal Sells 100,000 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Blumenthal sold 100,000 shares of Warby Parker stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $27.69, for a total transaction of $2,769,000.00. Following the completion of the transaction, the chief executive officer directly owned 36,020 shares of the company’s stock, valued at $997,393.80. The trade was a 73.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neil Harris Blumenthal also recently made the following trade(s):

• On Monday, July 6th, Neil Blumenthal sold 9,200 shares of Warby Parker stock. The stock was sold at an average price of $29.99, for a total transaction of $275,908.00.

Warby Parker Price Performance

Shares of NYSE:WRBY traded down $0.48 during trading hours on Friday, hitting $27.01. 2,864,590 shares of the company’s stock traded hands, compared to its average volume of 3,101,583. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00. The business has a fifty day moving average price of $25.61 and a 200-day moving average price of $25.21. The firm has a market capitalization of $2.92 billion, a P/E ratio of 385.80, a price-to-earnings-growth ratio of 7.53 and a beta of 1.89.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The business had revenue of $235.51 million during the quarter, compared to analysts’ expectations of $237.98 million. Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. As a group, equities analysts predict that Warby Parker Inc. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $29.00 price target on Warby Parker in a report on Thursday, September 17th. Weiss Ratings cut Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Roth Capital reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Warby Parker in a report on Wednesday, August 5th. BTIG Research reiterated a “buy” rating on shares of Warby Parker in a research report on Friday, August 14th. Finally, Citigroup reissued a “market outperform” rating on shares of Warby Parker in a report on Thursday, September 17th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WRBY. Vaughan Nelson Investment Management L.P. increased its holdings in Warby Parker by 31.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company’s stock valued at $63,806,000 after purchasing an additional 722,627 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Warby Parker by 10.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,722,577 shares of the company’s stock worth $36,291,000 after buying an additional 166,235 shares during the period. Bank of America Corp DE boosted its position in shares of 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 period. Ranger Investment Management L.P. acquired a new stake in shares of Warby Parker in the second quarter valued at $30,949,000. Finally, Atreides Management LP grew its stake in shares of Warby Parker by 74.8% in the first quarter. Atreides Management LP now owns 686,995 shares of the company’s stock valued at $14,475,000 after buying an additional 293,910 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Warby Parker Company Profile

Warby Parker Inc is an omnichannel eyewear company that designs, produces, and sells prescription eyeglasses, sunglasses, contact lenses, and related vision-care products. The company serves customers through its e-commerce platform, retail stores, and other direct-to-consumer channels, offering products under its Warby Parker brand.

Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider, Warby Parker began as an online eyewear retailer and later expanded its physical retail presence.