Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 9,200 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 9,200 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $29.99, for a total value of $275,908.00. Following the completion of the transaction, the chief executive officer owned 31,112 shares of the company’s stock, valued at $933,048.88. The trade was a 22.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Monday, June 29th, Neil Harris Blumenthal sold 36,300 shares of Warby Parker stock. The shares were sold at an average price of $30.04, for a total value of $1,090,452.00.
• On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The shares were sold at an average price of $30.03, for a total transaction 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 shares were sold at an average price of $24.56, for a total value 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 value of $56,467.60.

Warby Parker Stock Down 1.1%

Shares of NYSE WRBY traded down $0.30 during midday trading on Wednesday, hitting $27.73. The stock had a trading volume of 2,428,088 shares, compared to its average volume of 3,589,474. Warby Parker Inc. has a 1-year low of $14.96 and a 1-year high of $31.00. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 1,387.44, a PEG ratio of 5.60 and a beta of 1.91. The company has a fifty day moving average price of $26.13 and a 200 day moving average price of $24.94.

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

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of recent research reports. Bank of America started coverage on Warby Parker in a research note on Monday, June 29th. They issued a “buy” rating and a $33.00 target price for the company. BTIG Research lifted their price objective 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. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Citigroup restated a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, UBS Group raised their price target on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.82.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently made changes to their positions in WRBY. First Horizon Corp grew its holdings in Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after acquiring an additional 595 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 673 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Warby Parker during the fourth quarter valued at approximately $35,000. Farther Finance Advisors LLC raised its stake in Warby Parker by 41.4% during the fourth 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 in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Warby Parker by 110.7% during the 1st 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.

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.