Warby Parker (NYSE:WRBY) CEO Sells $6,445,119.87 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 217,667 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $29.61, for a total value of $6,445,119.87. Following the sale, the chief executive officer owned 31,112 shares of the company’s stock, valued at approximately $921,226.32. This represents a 87.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, 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 value of $1,090,452.00.
• On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The stock was sold at an average price of $30.03, for a total value 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 value 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 value 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 value of $56,467.60.

Warby Parker Price Performance

WRBY opened at $29.18 on Friday. The business’s 50-day moving average is $25.80 and its two-hundred day moving average is $24.92. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00. The firm has a market capitalization of $3.12 billion, a PE ratio of 1,459.48, a price-to-earnings-growth ratio of 5.85 and a beta of 1.91.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WRBY. Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Bank of America assumed coverage on shares of Warby Parker in a report on Monday, June 29th. They issued a “buy” rating and a $33.00 price target on the stock. UBS Group upped their price target on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a report on Friday, May 22nd. Finally, BTIG Research raised 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. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.82.

Hedge Funds Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently modified their holdings of WRBY. First Horizon Corp grew its position in Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after purchasing an additional 595 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Warby Parker by 105.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock worth $28,000 after buying an additional 673 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Warby Parker in the fourth quarter worth $35,000. Farther Finance Advisors LLC lifted its stake in shares of Warby Parker by 41.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after buying an additional 494 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after buying an additional 965 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

About Warby Parker

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.