Insider Selling: Warby Parker (NYSE:WRBY) CEO Sells 660 Shares of Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 660 shares of the stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $29.99, for a total value of $19,793.40. Following the completion of the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at $1,113,198.81. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, January 7th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The stock was sold at an average price of $27.08, for a total value of $1,354,000.00.
• On Tuesday, January 6th, Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock. The stock was sold at an average price of $25.09, for a total value of $3,763,500.00.
• On Thursday, December 11th, Neil Harris Blumenthal sold 100,000 shares of Warby Parker stock. The shares were sold at an average price of $30.29, for a total transaction of $3,029,000.00.

Warby Parker Price Performance

WRBY stock traded down $0.47 during midday trading on Thursday, reaching $28.32. 2,388,546 shares of the company’s stock traded hands, compared to its average volume of 4,525,696. Warby Parker Inc. has a fifty-two week low of $13.63 and a fifty-two week high of $31.00. The business has a 50-day moving average price of $22.42 and a two-hundred day moving average price of $23.69. The company has a market capitalization of $2.99 billion, a P/E ratio of 2,831.80 and a beta of 2.05.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.03) earnings per share. As a group, research analysts forecast that Warby Parker Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

WRBY has been the subject of several recent analyst reports. Telsey Advisory Group restated an “outperform” rating and set a $32.00 target price on shares of Warby Parker in a research note on Wednesday, December 17th. Robert W. Baird set a $35.00 price objective on Warby Parker in a research note on Wednesday, December 17th. The Goldman Sachs Group upped their target price on Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Warby Parker in a report on Monday, December 29th. Finally, Piper Sandler upped their target price on shares of Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and an average target price of $26.75.

Hedge Funds Weigh In On Warby Parker

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. raised its position in shares of Warby Parker by 6.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 13,435 shares of the company’s stock worth $293,000 after buying an additional 845 shares in the last quarter. Game Plan Financial Advisors LLC acquired a new position in shares of Warby Parker in the 4th quarter worth approximately $163,000. Diversified Trust Co. grew its stake in shares of Warby Parker by 31.4% in the 4th quarter. Diversified Trust Co. now owns 22,098 shares of the company’s stock worth $482,000 after purchasing an additional 5,275 shares during the last quarter. Maridea Wealth Management LLC bought a new stake in shares of Warby Parker in the 4th quarter worth approximately $878,000. Finally, Harbour Capital Advisors LLC acquired a new stake in Warby Parker during the fourth quarter valued at approximately $211,000. Institutional investors own 93.24% of the company’s stock.

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.