Insider Selling: Warby Parker (NYSE:WRBY) CEO Sells $2,769,000.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Blumenthal sold 100,000 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $27.69, for a total transaction of $2,769,000.00. Following the completion of the transaction, the chief executive officer owned 36,020 shares of the company’s stock, valued at approximately $997,393.80. This trade represents a 73.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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, July 6th, Neil Blumenthal sold 9,200 shares of Warby Parker stock. The shares were sold at an average price of $29.99, for a total value of $275,908.00.

Warby Parker Stock Down 1.8%

NYSE WRBY traded down $0.48 on Friday, hitting $27.01. 2,864,590 shares of the stock were exchanged, compared to its average volume of 3,101,583. 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 50-day moving average price of $25.61 and a 200-day moving average price of $25.21. The company has a market cap of $2.92 billion, a PE ratio of 385.80, a PEG ratio of 7.53 and a beta of 1.89.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Warby Parker had a return on equity of 3.36% and a net margin of 0.85%.The business had revenue of $235.51 million for the quarter, compared to analyst estimates of $237.98 million. During the same period last year, the business posted ($0.01) EPS. Warby Parker’s revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts predict that Warby Parker Inc. will post 0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on WRBY. Citizens Jmp lowered their price target on Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on Warby Parker in a research report on Thursday, September 17th. UBS Group lifted their target price on Warby Parker from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. BTIG Research reissued a “buy” rating on shares of Warby Parker in a report on Friday, August 14th. Finally, Weiss Ratings cut Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker presently has an average rating of “Moderate Buy” and a consensus price target of $30.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WRBY. EverSource Wealth Advisors LLC grew its stake in shares of Warby Parker by 105.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock worth $28,000 after buying an additional 673 shares during the last quarter. Essential Partners LLC lifted its holdings in shares of Warby Parker by 44.2% during the first quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock valued at $54,000 after purchasing an additional 788 shares in the last quarter. Parallel Advisors LLC lifted its stake 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. IFP Advisors Inc boosted its holdings in Warby Parker by 7.5% in the second quarter. IFP Advisors Inc now owns 19,453 shares of the company’s stock worth $590,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Corient Private Wealth LP boosted its stake in shares of Warby Parker by 1.8% in the 2nd quarter. Corient Private Wealth LP now owns 118,845 shares of the company’s stock worth $3,606,000 after buying an additional 2,127 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

About Warby Parker

Warby Parker Inc is an omnichannel eyewear company that designs, produces, and sells prescription eyeglasses, sunglasses, contact lenses, and related vision-care products. The company serves customers through its e-commerce platform, retail stores, and other direct-to-consumer channels, offering products under its Warby Parker brand.

Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider, Warby Parker began as an online eyewear retailer and later expanded its physical retail presence.