Warby Parker (NYSE:WRBY) Director Youngme Moon Sells 10,000 Shares of Stock

Warby Parker Inc. (NYSE:WRBY) Director Youngme Moon sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.53, for a total value of $265,300.00. Following the transaction, the director directly owned 26,061 shares in the company, valued at approximately $691,398.33. This trade represents a 27.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Warby Parker Stock Performance

WRBY stock opened at $26.32 on Friday. The stock’s 50 day simple moving average is $24.31 and its 200 day simple moving average is $24.30. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The company has a market cap of $2.82 billion, a P/E ratio of 1,316.86 and a beta of 1.96.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The company had revenue of $242.45 million during 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Equities analysts predict that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Warby Parker by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock valued at $294,155,000 after purchasing an additional 327,830 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Warby Parker by 32.5% during the 4th quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock valued at $210,907,000 after purchasing an additional 2,375,726 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Warby Parker by 31.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company’s stock valued at $63,806,000 after purchasing an additional 722,627 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Warby Parker by 17.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,594,171 shares of the company’s stock valued at $56,527,000 after purchasing an additional 381,071 shares during the last quarter. Finally, State Street Corp increased its position in shares of Warby Parker by 9.2% during the 4th quarter. State Street Corp now owns 2,408,610 shares of the company’s stock valued at $52,484,000 after purchasing an additional 202,029 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Telsey Advisory Group increased their price objective on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, UBS Group increased their price objective on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Warby Parker has a consensus rating of “Moderate Buy” and an average target price of $29.50.

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.