Bradley Singer Sells 4,833 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) Director Bradley Singer sold 4,833 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total value of $140,205.33. Following the completion of the transaction, the director owned 100,000 shares in the company, valued at $2,901,000. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Warby Parker Price Performance

Shares of NYSE WRBY traded down $0.16 during midday trading on Friday, hitting $28.75. The stock had a trading volume of 4,083,564 shares, compared to its average volume of 2,842,039. The firm has a market cap of $3.08 billion, a P/E ratio of 1,437.97 and a beta of 1.95. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The company’s 50-day simple moving average is $23.67 and its 200 day simple moving average is $23.36.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results 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 revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. Equities analysts expect that Warby Parker Inc. will post 0.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WRBY has been the topic of several recent research reports. UBS Group raised their target price on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BTIG Research boosted their price target 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 report on Monday. Telsey Advisory Group raised their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Citigroup upped their target price on shares of Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Hedge Funds Weigh In On Warby Parker

Several institutional investors have recently modified their holdings of WRBY. Man Group plc increased its stake in shares of Warby Parker by 1.6% in 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 raised its position in shares of 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 acquiring an additional 494 shares during the period. First Horizon Corp raised its position 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 valued at $26,000 after acquiring an additional 595 shares during the period. Choreo LLC boosted its stake in Warby Parker by 4.6% during the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock worth $458,000 after acquiring an additional 728 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Warby Parker by 10.1% during the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock worth $246,000 after acquiring an additional 816 shares during the last quarter. 93.24% of the stock is currently 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.