Warby Parker (NYSE:WRBY) CEO Sells $1,847,231.28 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 75,213 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $24.56, for a total value of $1,847,231.28. Following the sale, the chief executive officer directly owned 50,165 shares of the company’s stock, valued at $1,232,052.40. This trade represents a 59.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 Thursday, April 16th, Neil Harris Blumenthal sold 2,345 shares of Warby Parker stock. The stock was sold at an average price of $24.08, for a total value of $56,467.60.

Warby Parker Stock Up 3.9%

Shares of WRBY traded up $0.97 during midday trading on Monday, reaching $25.83. 3,492,314 shares of the stock were exchanged, compared to its average volume of 2,084,250. Warby Parker Inc. has a 12-month low of $13.63 and a 12-month high of $31.00. The firm has a 50 day simple moving average of $23.15 and a 200-day simple moving average of $23.10. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 1,292.10 and a beta of 2.07.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WRBY shares. Telsey Advisory Group restated an “outperform” rating and set a $32.00 target price on shares of Warby Parker in a report on Friday, February 20th. UBS Group reissued a “neutral” rating and set a $20.00 price objective on shares of Warby Parker in a report on Wednesday, February 25th. Weiss Ratings lowered Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Finally, Citigroup increased their price objective on Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $28.09.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Man Group plc increased its holdings in shares of Warby Parker by 1.6% during the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after acquiring an additional 400 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Warby Parker by 41.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after buying an additional 494 shares during the last quarter. First Horizon Corp grew its holdings in Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after buying an additional 595 shares during the last quarter. Choreo LLC grew its holdings in Warby Parker by 4.6% in the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock valued at $458,000 after buying an additional 728 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in Warby Parker by 10.1% in the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock valued at $246,000 after buying an additional 816 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.