Joel Cutler Sells 19,932 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) Director Joel Cutler sold 19,932 shares of Warby Parker stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total value of $518,431.32. Following the sale, the director directly owned 20,000 shares in the company, valued at $520,200. The trade was a 49.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Warby Parker Stock Performance

NYSE:WRBY opened at $26.38 on Friday. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 2,638.00 and a beta of 2.06. Warby Parker Inc. has a 1 year low of $13.63 and a 1 year high of $31.00. The business has a fifty day moving average of $20.84 and a 200-day moving average of $23.21.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share 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 return on equity of 1.96% and a net margin of 0.08%.The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) EPS. On average, equities research analysts predict that Warby Parker Inc. will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Warby Parker by 259.3% in 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% during 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 in the last quarter. Huntington National Bank boosted its holdings in shares of Warby Parker by 111.0% in the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after buying an additional 881 shares during the period. NewEdge Advisors LLC increased its position in shares of Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares in the last quarter. Finally, Anderson Financial Strategies LLC raised its holdings in shares of Warby Parker by 39.0% during the first quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company’s stock valued at $72,000 after acquiring an additional 1,109 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group dropped their target price on Warby Parker from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Wednesday, December 10th. Citigroup upgraded Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Wall Street Zen cut Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, The Goldman Sachs Group boosted their price target on shares of Warby Parker from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.75.

About Warby Parker

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.