Youngme Moon Sells 10,000 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) Director Youngme Moon sold 10,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.53, for a total value of $265,300.00. Following the completion of the sale, the director directly owned 26,061 shares of the company’s stock, valued at $691,398.33. The trade was a 27.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Warby Parker Stock Performance

NYSE:WRBY opened at $26.32 on Friday. Warby Parker Inc. has a one year low of $14.96 and a one year high of $31.00. The business’s 50-day simple moving average is $24.31 and its 200 day simple moving average is $24.30. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 1,316.86 and a beta of 1.96.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. On average, equities research analysts predict that Warby Parker Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Weiss Ratings raised 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 research note on Tuesday, May 19th. UBS Group raised their price objective on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, BTIG Research raised their price objective on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Hedge Funds Weigh In On Warby Parker

Hedge funds have recently bought and sold shares of the business. First Horizon Corp increased its position in Warby Parker by 96.7% during the fourth 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 increased its position in Warby Parker by 105.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock worth $28,000 after buying an additional 673 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Warby Parker during the fourth quarter worth $35,000. Farther Finance Advisors LLC increased its position in Warby Parker by 41.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after buying an additional 494 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after buying an additional 965 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

About Warby Parker

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.