Bradley Singer Sells 4,833 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) Director Bradley Singer sold 4,833 shares of Warby Parker stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $29.01, for a total value of $140,205.33. Following the sale, the director directly owned 100,000 shares in the company, valued at approximately $2,901,000. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Warby Parker Stock Down 0.5%

WRBY stock opened at $28.75 on Friday. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00. The company has a market cap of $3.08 billion, a PE ratio of 1,437.97 and a beta of 1.95. The business’s 50-day simple moving average is $23.67 and its 200 day simple moving average is $23.36.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. First Horizon Corp raised its stake in shares of Warby Parker by 96.7% in the fourth 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 last quarter. Eagle Bay Advisors LLC bought a new position in shares of Warby Parker in the fourth quarter valued at approximately $35,000. Farther Finance Advisors LLC raised its stake in shares of Warby Parker by 41.4% in the fourth 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 last quarter. Parallel Advisors LLC raised its stake in shares of Warby Parker by 110.7% in the first 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 last quarter. Finally, Covestor Ltd raised its stake in shares of Warby Parker by 5,795.3% in the fourth quarter. Covestor Ltd now owns 2,535 shares of the company’s stock valued at $55,000 after acquiring an additional 2,492 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WRBY shares. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Citigroup lifted their price objective on Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. UBS Group lifted their price objective on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Telsey Advisory Group lifted their price objective on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, BTIG Research lifted their price objective on 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Warby Parker has a consensus rating of “Moderate Buy” and an average price target of $29.00.

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.