Warby Parker (NYSE:WRBY) Director Bradley Singer Sells 4,833 Shares

Warby Parker Inc. (NYSE:WRBY) Director Bradley Singer sold 4,833 shares of Warby Parker stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total value of $140,205.33. Following the sale, the director owned 100,000 shares in the company, valued at $2,901,000. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Warby Parker Stock Down 0.5%

Shares of WRBY stock opened at $28.75 on Friday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 1,437.97 and a beta of 1.95. The business’s fifty day moving average is $23.67 and its 200 day moving average is $23.36. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.Warby Parker’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. Equities research analysts expect that Warby Parker Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warby Parker

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Warby Parker by 3.2% in the third quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after acquiring an additional 327,830 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Warby Parker by 32.5% in the fourth quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock worth $210,907,000 after acquiring an additional 2,375,726 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Warby Parker by 31.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company’s stock worth $63,806,000 after acquiring an additional 722,627 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Warby Parker by 17.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,594,171 shares of the company’s stock worth $56,527,000 after acquiring an additional 381,071 shares in the last quarter. Finally, State Street Corp boosted its holdings in Warby Parker by 9.2% in the fourth quarter. State Street Corp now owns 2,408,610 shares of the company’s stock worth $52,484,000 after acquiring an additional 202,029 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WRBY shares. Telsey Advisory Group upped their price target on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. UBS Group upped their price target on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Citigroup upped their price target on Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. BTIG Research upped their price target on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.00.

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.