Warby Parker (NYSE:WRBY) CEO Sells $1,893,091.20 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 63,040 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $30.03, for a total transaction of $1,893,091.20. Following the completion of the transaction, the chief executive officer directly owned 50,165 shares in the company, valued at approximately $1,506,454.95. The trade was a 55.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 Monday, April 20th, Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock. The stock was sold at an average price of $25.09, for a total transaction of $563,069.78.
• On Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The stock was 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 stock was sold at an average price of $24.08, for a total transaction of $56,467.60.

Warby Parker Stock Performance

Warby Parker stock opened at $25.10 on Friday. The stock has a market cap of $2.69 billion, a P/E ratio of 1,255.63 and a beta of 1.95. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The firm’s fifty day moving average price is $23.67 and its 200-day moving average price is $23.55.

Warby Parker (NYSE:WRBY) last released 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 the consensus estimate of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 EPS. Sell-side analysts predict that Warby Parker Inc. will post 0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WRBY. Telsey Advisory Group upped their price target on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. UBS Group upped their price target on shares of Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. BTIG Research upped their price target on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research note on Tuesday. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Man Group plc increased its stake in Warby Parker by 1.6% in the second quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after acquiring an additional 400 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after acquiring an additional 494 shares during the last quarter. First Horizon Corp increased 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 acquiring an additional 595 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Warby Parker by 105.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after acquiring an additional 673 shares during the last quarter. Finally, Choreo LLC increased its stake in Warby Parker by 4.6% in the third quarter. Choreo LLC now owns 16,605 shares of the company’s stock valued at $458,000 after acquiring an additional 728 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.