Warby Parker (NYSE:WRBY) Director Bradley Singer Sells 4,833 Shares

Warby Parker Inc. (NYSE:WRBY) Director Bradley Singer sold 4,833 shares of Warby Parker stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total value of $140,205.33. Following the sale, the director directly owned 100,000 shares in the company, valued at $2,901,000. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Warby Parker Price Performance

Shares of WRBY traded down $0.16 during mid-day trading on Friday, reaching $28.75. The company had a trading volume of 4,083,564 shares, compared to its average volume of 2,842,039. The company has a market capitalization of $3.08 billion, a P/E ratio of 1,437.97 and a beta of 1.95. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00. The company’s 50-day moving average is $23.67 and its 200-day moving average is $23.36.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The company had revenue of $242.45 million during the quarter, compared to analyst estimates of $239.44 million. During the same period in the prior year, the firm earned $0.03 EPS. Warby Parker’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that Warby Parker Inc. will post 0.24 EPS for the current fiscal year.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Warby Parker by 3.2% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. increased its position in Warby Parker by 32.5% in the 4th quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock valued at $210,907,000 after acquiring an additional 2,375,726 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Warby Parker by 31.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company’s stock worth $63,806,000 after acquiring an additional 722,627 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Warby Parker by 17.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,594,171 shares of the company’s stock worth $56,527,000 after purchasing an additional 381,071 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Warby Parker by 9.2% during the fourth quarter. State Street Corp now owns 2,408,610 shares of the company’s stock worth $52,484,000 after purchasing an additional 202,029 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WRBY. Telsey Advisory Group upped their target price on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday. UBS Group upped their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Citigroup raised their price objective on shares of Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Finally, BTIG Research lifted their target price on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

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.