Bradley Singer Sells 20,167 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) Director Bradley Singer sold 20,167 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $28.51, for a total transaction of $574,961.17. Following the completion of the sale, the director owned 104,833 shares in the company, valued at $2,988,788.83. The trade was a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Warby Parker Price Performance

Shares of Warby Parker stock traded down $0.16 during trading on Friday, hitting $28.75. 4,083,564 shares of the stock were exchanged, compared to its average volume of 2,842,039. The firm’s 50-day moving average price is $23.67 and its 200 day moving average price is $23.36. 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. Warby Parker Inc. has a 12-month low of $14.96 and a 12-month high of $31.00.

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Man Group plc grew its position in shares of Warby Parker by 1.6% during the second quarter. Man Group plc now owns 25,095 shares of the company’s stock worth $550,000 after acquiring an additional 400 shares during the last quarter. Farther Finance Advisors LLC raised its position in Warby Parker by 41.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after purchasing an additional 494 shares during the last quarter. First Horizon Corp boosted its stake in Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after purchasing an additional 595 shares during the period. Choreo LLC boosted its stake in Warby Parker by 4.6% during the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock worth $458,000 after purchasing an additional 728 shares during the period. Finally, New York State Teachers Retirement System grew its position in 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 worth $246,000 after purchasing an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.