Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 63,040 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 63,040 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $30.03, for a total transaction of $1,893,091.20. Following the sale, the chief executive officer directly owned 50,165 shares of the company’s stock, valued at $1,506,454.95. The trade was a 55.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 shares were 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 transaction of $56,467.60.

Warby Parker Stock Up 0.3%

Shares of NYSE:WRBY traded up $0.07 on Thursday, hitting $24.52. The company had a trading volume of 2,043,236 shares, compared to its average volume of 3,183,516. The firm’s 50-day simple moving average is $23.69 and its two-hundred day simple moving average is $23.50. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 1,226.76 and a beta of 1.95.

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 return on equity of 2.30% and a net margin of 0.15%.The company had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. During the same period in the prior year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts anticipate that Warby Parker Inc. will post 0.24 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. First Horizon Corp lifted its position in Warby Parker by 96.7% during the 4th 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 period. EverSource Wealth Advisors LLC lifted its position in Warby Parker by 105.7% during the 1st 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 period. Eagle Bay Advisors LLC purchased a new position in Warby Parker during the 4th quarter valued at about $35,000. Farther Finance Advisors LLC lifted its position in Warby Parker by 41.4% during the 4th 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 period. Finally, Parallel Advisors LLC lifted its position in Warby Parker by 110.7% during the 1st quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $39,000 after acquiring an additional 965 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WRBY. UBS Group upped their target price on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Telsey Advisory Group upped their target price on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. BTIG Research upped their target price on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Citigroup upped their target price on Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

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.