Warby Parker (NYSE:WRBY) CEO Sells $3,763,500.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 150,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the completion of the sale, the chief executive officer owned 37,119 shares in the company, valued at approximately $931,315.71. This trade represents a 80.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, December 11th, Neil Harris Blumenthal sold 100,000 shares of Warby Parker stock. The stock was sold at an average price of $30.29, for a total value of $3,029,000.00.

Warby Parker Stock Up 11.6%

WRBY stock traded up $2.70 during trading on Tuesday, hitting $25.95. 5,709,473 shares of the company’s stock traded hands, compared to its average volume of 5,373,160. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 2,595.40 and a beta of 2.05. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $31.00. The stock has a fifty day moving average price of $21.41 and a two-hundred day moving average price of $23.44.

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

Institutional Investors Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently bought and sold shares of WRBY. Farther Finance Advisors LLC grew its position in Warby Parker by 259.3% during 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. PNC Financial Services Group Inc. boosted its stake in shares of Warby Parker by 400.3% during the 2nd 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 period. Huntington National Bank grew its holdings in shares of Warby Parker by 111.0% during the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after acquiring an additional 881 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Warby Parker by 56.7% during 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 worth $72,000 after acquiring an additional 1,109 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on WRBY. UBS Group reduced their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Robert W. Baird set a $35.00 price objective on Warby Parker in a report on Wednesday, December 17th. Wall Street Zen downgraded Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Wednesday, December 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, December 12th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Warby Parker presently has an average rating of “Moderate Buy” and a consensus price target 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.