Insider Selling: Warby Parker (NYSE:WRBY) Director Sells $1,128,846.24 in Stock

Warby Parker Inc. (NYSE:WRBY) Director Youngme Moon sold 38,832 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the completion of the transaction, the director directly owned 27,057 shares of the company’s stock, valued at approximately $786,546.99. The trade was a 58.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Warby Parker Stock Performance

NYSE:WRBY opened at $26.70 on Thursday. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 2,669.80 and a beta of 2.06. Warby Parker Inc. has a one year low of $13.63 and a one year high of $31.00. The business’s 50-day simple moving average is $20.69 and its 200 day simple moving average is $23.15.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $221.68 million for the quarter, compared to analysts’ expectations of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.03) earnings per share. On average, equities research analysts predict that Warby Parker Inc. will post -0.12 EPS for the current year.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its position in Warby Parker by 259.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after purchasing an additional 861 shares during the period. PNC Financial Services Group Inc. lifted its stake in Warby Parker by 400.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after buying an additional 1,281 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Warby Parker by 111.0% during the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after acquiring an additional 881 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Warby Parker during the first quarter worth about $58,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Warby Parker by 56.7% in the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird set a $35.00 target price on shares of Warby Parker in a research note on Wednesday. Wall Street Zen cut Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research raised Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Stifel Nicolaus boosted their price target on Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a report on Friday, December 12th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.75.

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.