Insider Selling: Warby Parker Inc. (NYSE:WRBY) CEO Sells 300,000 Shares of Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 300,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $306,129.78. The trade was a 96.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Neil Harris Blumenthal also recently made the following trade(s):

• On Friday, December 20th, Neil Harris Blumenthal sold 93,946 shares of Warby Parker stock. The shares were sold at an average price of $25.08, for a total value of $2,356,165.68.
• On Wednesday, December 18th, Neil Harris Blumenthal sold 56,054 shares of Warby Parker stock. The stock was sold at an average price of $25.09, for a total value of $1,406,394.86.
• On Monday, December 9th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00.
• On Tuesday, December 3rd, Neil Harris Blumenthal sold 36,163 shares of Warby Parker stock. The stock was sold at an average price of $22.61, for a total transaction of $817,645.43.

Warby Parker Price Performance

Shares of WRBY opened at $26.61 on Thursday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -98.56 and a beta of 1.88. Warby Parker Inc. has a 1 year low of $11.35 and a 1 year high of $27.10. The business’s 50 day simple moving average is $23.02 and its 200-day simple moving average is $18.08.

Institutional Investors Weigh In On Warby Parker

Hedge funds have recently bought and sold shares of the business. Marshall Wace LLP grew its stake in shares of Warby Parker by 1,013.4% in the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after buying an additional 1,295,136 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after acquiring an additional 481,900 shares during the last quarter. Verition Fund Management LLC purchased a new position in Warby Parker in the third quarter worth about $7,462,000. Dimensional Fund Advisors LP increased its stake in Warby Parker by 29.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after acquiring an additional 308,472 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its position in Warby Parker by 20.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after purchasing an additional 300,891 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price target on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Stifel Nicolaus raised their price target on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Piper Sandler upped their price objective on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, JMP Securities lifted their target price on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.73.

About Warby Parker

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.