Warby Parker (NYSE:WRBY) CEO Sells $563,069.78 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 22,442 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $25.09, for a total transaction of $563,069.78. Following the completion of the transaction, the chief executive officer owned 50,165 shares in the company, valued at approximately $1,258,639.85. The trade was a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 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 transaction of $56,467.60.

Warby Parker Stock Down 2.1%

WRBY opened at $24.62 on Thursday. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 1,231.37 and a beta of 2.07. Warby Parker Inc. has a twelve month low of $14.72 and a twelve month high of $31.00. The company’s 50-day moving average price is $23.25 and its two-hundred day moving average price is $23.10.

Wall Street Analyst Weigh In

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

Institutional Trading of Warby Parker

A number of institutional investors have recently modified their holdings of the business. Man Group plc lifted its stake in shares of Warby Parker by 1.6% during the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after buying an additional 400 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after buying an additional 494 shares in the last quarter. First Horizon Corp lifted its stake in shares of Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after buying an additional 595 shares in the last quarter. Choreo LLC lifted its stake in shares of Warby Parker by 4.6% during the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock valued at $458,000 after buying an additional 728 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its stake in shares of Warby Parker by 10.1% during the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock valued at $246,000 after buying an additional 816 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

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.