Insider Selling: Warby Parker (NYSE:WRBY) CEO Sells $1,090,452.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 36,300 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $30.04, for a total transaction of $1,090,452.00. Following the transaction, the chief executive officer owned 59,459 shares in the company, valued at $1,786,148.36. This represents a 37.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 stock was sold at an average price of $29.61, for a total value of $6,445,119.87.
• 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 shares were 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 Price Performance

Shares of NYSE WRBY opened at $29.18 on Friday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 1,459.48, a P/E/G ratio of 5.85 and a beta of 1.91. The company has a 50-day moving average price of $25.80 and a 200-day moving average price of $24.92. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The firm’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 business earned $0.03 EPS. As a group, equities research analysts anticipate that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WRBY. First Horizon Corp increased its holdings in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after buying an additional 595 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Warby Parker by 105.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after buying an additional 673 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Warby Parker during the 4th quarter worth $35,000. Farther Finance Advisors LLC lifted its holdings in shares of Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after acquiring an additional 494 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Warby Parker by 110.7% in the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after acquiring an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analyst Ratings Changes

WRBY has been the subject of several recent research reports. BTIG Research lifted their target price on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. 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. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, Bank of America initiated coverage on shares of Warby Parker in a report on Monday, June 29th. They set a “buy” rating and a $33.00 target price on the stock. Ten research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.82.

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.