Neil Harris Blumenthal Sells 2,345 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 2,345 shares of Warby Parker stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $24.08, for a total value of $56,467.60. Following the transaction, the chief executive officer owned 50,165 shares in the company, valued at $1,207,973.20. This represents a 4.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 20th, Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total value of $563,069.78.
• On Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The shares were sold at an average price of $24.56, for a total value of $1,847,231.28.

Warby Parker Trading Down 3.2%

Shares of WRBY stock opened at $25.06 on Wednesday. Warby Parker Inc. has a 1-year low of $14.13 and a 1-year high of $31.00. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 1,253.43 and a beta of 2.07. The stock’s fifty day simple moving average is $23.20 and its 200-day simple moving average is $23.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Horizon Corp grew its stake in Warby Parker by 96.7% in the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after purchasing an additional 595 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Warby Parker by 259.3% in the third 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 in the last quarter. Eagle Bay Advisors LLC purchased a new position in Warby Parker in the fourth quarter valued at about $35,000. Covestor Ltd grew its stake in Warby Parker by 5,795.3% in the fourth quarter. Covestor Ltd now owns 2,535 shares of the company’s stock valued at $55,000 after purchasing an additional 2,492 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock valued at $65,000 after purchasing an additional 850 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WRBY shares. UBS Group reiterated a “neutral” rating and set a $20.00 price target on shares of Warby Parker in a report on Wednesday, February 25th. Weiss Ratings downgraded Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, March 2nd. Citigroup boosted their target price on Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $32.00 target price on shares of Warby Parker in a research note on Friday, February 20th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Warby Parker has a consensus rating of “Moderate Buy” and an average price target of $28.09.

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.