Warby Parker (NYSE:WRBY) CEO Sells $2,769,000.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Blumenthal sold 100,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 36,020 shares in the company, valued at approximately $997,393.80. This trade represents a 73.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Monday, July 6th, Neil Blumenthal sold 9,200 shares of Warby Parker stock. The shares were sold at an average price of $29.99, for a total value of $275,908.00.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $27.01 on Monday. Warby Parker Inc. has a 52-week low of $14.96 and a 52-week high of $31.00. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 385.80, a PEG ratio of 7.32 and a beta of 1.89. The stock has a 50 day moving average price of $25.66 and a 200 day moving average price of $25.24.

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

Institutional Trading of Warby Parker

Institutional investors have recently bought and sold shares of the stock. Ranger Investment Management L.P. acquired a new stake in Warby Parker during the 2nd quarter worth about $30,949,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 31.3% during 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 purchasing an additional 722,627 shares during the period. Atreides Management LP acquired a new stake in shares of Warby Parker during the fourth quarter worth about $8,565,000. Senator Investment Group LP purchased a new stake in Warby Parker in the fourth quarter valued at approximately $8,218,000. Finally, Bank of America Corp DE boosted its position in Warby Parker by 30.9% in the first quarter. Bank of America Corp DE now owns 1,377,646 shares of the company’s stock valued at $29,027,000 after buying an additional 325,250 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Bank of America began coverage on shares of Warby Parker in a research report on Monday, June 29th. They set a “buy” rating and a $33.00 target price on the stock. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a report on Thursday, September 17th. Roth Capital restated a “neutral” rating and set a $28.00 price objective on shares of Warby Parker in a research note on Wednesday, August 5th. Weiss Ratings lowered Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Finally, Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of Warby Parker in a report on Thursday, September 17th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.08.

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.