Insider Selling: Warby Parker (NYSE:WRBY) CEO Sells $275,908.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 9,200 shares of Warby Parker stock in a transaction on Monday, July 6th. The stock was sold at an average price of $29.99, for a total transaction of $275,908.00. Following the completion of the transaction, the chief executive officer directly owned 31,112 shares of the company’s stock, valued at approximately $933,048.88. This represents a 22.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction 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 transaction of $1,090,452.00.
• On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The stock was 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 stock was 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 stock was sold at an average price of $24.56, for a total transaction 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 trading on Wednesday, hitting $27.73. 2,428,088 shares of the company traded hands, compared to its average volume of 3,589,474. The business’s fifty day moving average is $26.13 and its 200-day moving average is $24.94. The stock 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. Warby Parker Inc. has a one year low of $14.96 and a one year high of $31.00.

Warby Parker (NYSE:WRBY) last announced 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). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. During the same period last year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts forecast that Warby Parker Inc. will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently bought and sold shares of WRBY. First Horizon Corp lifted 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 acquiring an additional 595 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Warby Parker by 105.7% in the 1st 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 bought a new stake in shares of Warby Parker in the 4th quarter worth approximately $35,000. Farther Finance Advisors LLC raised its holdings 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 worth $37,000 after purchasing an additional 494 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $39,000 after purchasing an additional 965 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Bank of America began coverage on Warby Parker in a research note on Monday, June 29th. They set a “buy” rating and a $33.00 target price on the stock. Weiss Ratings upgraded shares of 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 report on Tuesday, May 19th. Telsey Advisory Group increased their target price on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, BTIG Research raised their target price 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. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Warby Parker presently has an average rating of “Moderate Buy” and a consensus price target of $29.82.

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.