Warby Parker (NYSE:WRBY) Director Sells $518,431.32 in Stock

Warby Parker Inc. (NYSE:WRBY) Director Joel Cutler sold 19,932 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total value of $518,431.32. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at $520,200. This trade represents a 49.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Warby Parker Stock Performance

Warby Parker stock traded down $0.06 during trading hours on Thursday, hitting $26.72. The company had a trading volume of 2,460,690 shares, compared to its average volume of 2,476,032. The firm has a market cap of $2.83 billion, a P/E ratio of 2,672.00 and a beta of 2.06. The company has a 50-day moving average price of $20.69 and a two-hundred day moving average price of $23.15. Warby Parker Inc. has a 1 year low of $13.63 and a 1 year high of $31.00.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $221.68 million during the quarter, compared to the consensus estimate of $224.49 million. Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. As a group, equities research analysts anticipate that Warby Parker Inc. will post -0.12 EPS for the current year.

Analyst Ratings Changes

WRBY has been the topic of several recent research reports. Robert W. Baird set a $35.00 target price on shares of Warby Parker in a report on Wednesday. Citizens Jmp upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Wednesday, December 10th. Stifel Nicolaus boosted their price objective on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, December 12th. Telsey Advisory Group restated an “outperform” rating and set a $32.00 target price on shares of Warby Parker in a report on Wednesday. Finally, The Goldman Sachs Group increased their target price on Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.75.

Institutional Trading of Warby Parker

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Warby Parker by 3.2% in the third quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after acquiring an additional 327,830 shares in the last quarter. Durable Capital Partners LP boosted its stake in Warby Parker by 13.2% in the 1st quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company’s stock worth $186,172,000 after purchasing an additional 1,194,558 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 purchasing an additional 2,120,768 shares during the last quarter. Bank of New York Mellon Corp grew its position in Warby Parker by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock worth $57,133,000 after purchasing an additional 884,035 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Warby Parker by 14.6% during the 1st quarter. American Century Companies Inc. now owns 2,456,965 shares of the company’s stock valued at $44,790,000 after purchasing an additional 312,543 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

About Warby Parker

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.