Insider Selling: Warby Parker Inc. (NYSE:WRBY) Major Shareholder Sells $92,019.40 in Stock

Warby Parker Inc. (NYSE:WRBYGet Rating) major shareholder Durable Capital Partners Lp sold 5,540 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $16.61, for a total transaction of $92,019.40. Following the transaction, the insider now directly owns 11,666,766 shares in the company, valued at $193,784,983.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Warby Parker Price Performance

Shares of WRBY opened at $15.92 on Friday. Warby Parker Inc. has a fifty-two week low of $10.86 and a fifty-two week high of $38.26. The business has a 50-day moving average of $15.74 and a 200 day moving average of $14.51.

Warby Parker (NYSE:WRBYGet Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.09). Warby Parker had a negative return on equity of 31.02% and a negative net margin of 23.27%. The business had revenue of $148.78 million during the quarter, compared to analysts’ expectations of $145.00 million. On average, research analysts expect that Warby Parker Inc. will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. TD Asset Management Inc. lifted its stake in Warby Parker by 12.9% in the 2nd quarter. TD Asset Management Inc. now owns 469,475 shares of the company’s stock worth $5,286,000 after purchasing an additional 53,820 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Warby Parker by 0.4% in the third quarter. Baillie Gifford & Co. now owns 6,301,737 shares of the company’s stock worth $84,064,000 after buying an additional 24,515 shares in the last quarter. Crestone Asset Management LLC bought a new stake in Warby Parker during the second quarter valued at $231,000. Verition Fund Management LLC purchased a new position in Warby Parker during the second quarter worth about $1,632,000. Finally, Trexquant Investment LP bought a new position in Warby Parker in the 2nd quarter worth about $146,000.

Wall Street Analysts Forecast Growth

WRBY has been the topic of several recent analyst reports. Evercore ISI lifted their target price on shares of Warby Parker to $21.00 in a research report on Wednesday, November 16th. Morgan Stanley dropped their price target on Warby Parker from $17.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, November 14th. Piper Sandler upped their price objective on Warby Parker to $22.00 in a research note on Wednesday, November 16th. Citigroup lowered their target price on Warby Parker from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, November 11th. Finally, Robert W. Baird cut their price target on shares of Warby Parker from $25.00 to $23.00 in a report on Thursday, December 15th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.00.

About Warby Parker

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Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.

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