Warby Parker (NYSE:WRBY) Director Sells $518,431.32 in Stock

Warby Parker Inc. (NYSE:WRBY) Director Joel Cutler sold 19,932 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total value of $518,431.32. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at approximately $520,200. The trade was a 49.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Warby Parker Price Performance

NYSE:WRBY traded down $0.06 during midday trading on Thursday, hitting $26.72. The company’s stock had a trading volume of 2,460,690 shares, compared to its average volume of 2,476,032. Warby Parker Inc. has a fifty-two week low of $13.63 and a fifty-two week high of $31.00. The firm has a market cap of $2.83 billion, a P/E ratio of 2,672.00 and a beta of 2.06. The firm’s 50 day moving average is $20.69 and its 200-day moving average is $23.15.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The business had revenue of $221.68 million during the quarter, compared to analysts’ expectations of $224.49 million. During the same period last year, the company earned ($0.03) earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. As a group, analysts forecast that Warby Parker Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WRBY. JPMorgan Chase & Co. raised its position in shares of Warby Parker by 987.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company’s stock valued at $113,654,000 after buying an additional 4,706,148 shares during the period. Artisan Partners Limited Partnership acquired a new position in Warby Parker during the 2nd quarter worth about $27,589,000. Durable Capital Partners LP lifted its stake in Warby Parker by 13.2% during the 1st quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company’s stock worth $186,172,000 after acquiring an additional 1,194,558 shares in the last quarter. 12 West Capital Management LP purchased a new position in Warby Parker during the 1st quarter valued at about $21,420,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Warby Parker by 105.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,216,320 shares of the company’s stock valued at $48,604,000 after acquiring an additional 1,137,970 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WRBY shares. Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Wednesday, December 10th. Robert W. Baird set a $35.00 price objective on shares of Warby Parker in a research note on Wednesday. BTIG Research lifted their target price on shares of Warby Parker from $25.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Telsey Advisory Group reissued an “outperform” rating and set a $32.00 price target on shares of Warby Parker in a report on Wednesday. Finally, Citigroup upgraded shares of Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.75.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.