Insider Selling: Warby Parker (NYSE:WRBY) CEO Sells 73,133 Shares of Company Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Blumenthal sold 73,133 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $30.13, for a total transaction of $2,203,497.29. Following the sale, the chief executive officer owned 36,020 shares of the company’s stock, valued at approximately $1,085,282.60. The trade was a 67.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Thursday, October 1st, Neil Blumenthal sold 100,000 shares of Warby Parker stock. The shares were sold at an average price of $27.69, for a total value of $2,769,000.00.

Warby Parker Stock Down 11.4%

Shares of WRBY traded down $3.42 during trading hours on Thursday, hitting $26.73. The company had a trading volume of 6,258,195 shares, compared to its average volume of 4,366,498. The firm has a market cap of $2.91 billion, a P/E ratio of 445.51, a P/E/G ratio of 9.87 and a beta of 1.95. The stock’s 50 day moving average price is $25.30 and its 200 day moving average price is $25.17. Warby Parker Inc. has a 52-week low of $16.26 and a 52-week high of $31.75.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, November 5th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The company had revenue of $244.74 million during the quarter, compared to the consensus estimate of $244.92 million. Warby Parker had a net margin of 0.80% and a return on equity of 3.36%. The company’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.05 EPS. On average, research analysts expect that Warby Parker Inc. will post 0.12 EPS for the current fiscal year.

Institutional Trading of Warby Parker

Several large investors have recently modified their holdings of WRBY. EverSource Wealth Advisors LLC grew its stake in shares of Warby Parker by 105.7% in the first 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. GAMMA Investing LLC raised its position in Warby Parker by 53.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,339 shares of the company’s stock valued at $37,000 after purchasing an additional 468 shares during the last quarter. Parallel Advisors LLC raised 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 purchasing an additional 965 shares during the last quarter. Essential Partners LLC raised its position in Warby Parker by 44.2% during the 1st quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock valued at $54,000 after purchasing an additional 788 shares during the last quarter. Finally, Advisors Asset Management Inc. purchased a new stake in Warby Parker in the 3rd quarter worth approximately $64,000. 93.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on WRBY. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research report on Thursday, September 17th. TD Cowen assumed coverage on shares of Warby Parker in a report on Friday, October 30th. They issued a “strong-buy” rating on the stock. Deutsche Bank set a $29.00 target price on shares of Warby Parker in a research note on Thursday, September 17th. Citizens Jmp upped their price target on shares of Warby Parker from $29.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, November 6th. Finally, Weiss Ratings lowered shares of Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.42.

Warby Parker Company Profile

Warby Parker Inc. is an eyewear company that sells prescription glasses, sunglasses, and contact lenses through its website and retail stores. It also offers vision-related services, including eye exams at select locations. Founded in 2010, the company helped popularize a direct-to-consumer model for eyewear and has since expanded its network of stores. Warby Parker serves customers primarily in the United States and Canada. The company was co-founded by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider.