Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 36,300 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 36,300 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $30.04, for a total transaction of $1,090,452.00. Following the completion of the sale, the chief executive officer owned 59,459 shares in the company, valued at approximately $1,786,148.36. This trade represents a 37.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The shares were sold at an average price of $30.03, for a total transaction of $1,893,091.20.
• 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 shares were 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 shares were sold at an average price of $24.08, for a total value of $56,467.60.

Warby Parker Trading Down 2.8%

Shares of NYSE WRBY opened at $29.48 on Thursday. The stock has a market capitalization of $3.16 billion, a PE ratio of 1,474.64, a PEG ratio of 6.06 and a beta of 1.91. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00. The stock has a fifty day simple moving average of $25.62 and a 200-day simple moving average of $24.88.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $242.45 million for 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%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $0.03 earnings per share. On average, equities analysts predict that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on WRBY. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. UBS Group lifted their target price on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Telsey Advisory Group boosted their target price on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.82.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WRBY. Man Group plc grew its holdings in Warby Parker by 1.6% during the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock worth $550,000 after acquiring an additional 400 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of 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 in the last quarter. First Horizon Corp raised its holdings in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after purchasing an additional 595 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Warby Parker by 105.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock worth $28,000 after purchasing an additional 673 shares during the last quarter. Finally, Choreo LLC lifted its position in shares of 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 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.