Warby Parker (NYSE:WRBY) Director Sells $518,431.32 in Stock

Warby Parker Inc. (NYSE:WRBY) Director Joel Cutler sold 19,932 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total transaction of $518,431.32. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $520,200. The trade was a 49.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Warby Parker Stock Performance

Warby Parker stock opened at $26.38 on Friday. Warby Parker Inc. has a fifty-two week low of $13.63 and a fifty-two week high of $31.00. The firm’s 50-day simple moving average is $20.84 and its 200 day simple moving average is $23.23. The stock has a market cap of $2.79 billion, a PE ratio of 2,638.00 and a beta of 2.06.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The firm had revenue of $221.68 million for the quarter, compared to the consensus estimate of $224.49 million. During the same period in the prior year, the business earned ($0.03) EPS. Warby Parker’s quarterly revenue was up 15.2% compared to the same quarter last year. As a group, analysts predict that Warby Parker Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of Warby Parker

Several hedge funds and other institutional investors have recently modified their holdings of WRBY. CIBC Bancorp USA Inc. bought a new position in Warby Parker in the 3rd quarter worth approximately $289,000. NewEdge Advisors LLC lifted its position in shares of Warby Parker by 56.7% during the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares in the last quarter. Shelton Capital Management lifted its position in shares of Warby Parker by 100.6% during the third quarter. Shelton Capital Management now owns 32,100 shares of the company’s stock worth $885,000 after acquiring an additional 16,100 shares in the last quarter. Mariner LLC boosted its holdings in shares of Warby Parker by 6.2% in the third quarter. Mariner LLC now owns 25,602 shares of the company’s stock worth $706,000 after acquiring an additional 1,502 shares during the period. Finally, Lombard Odier Asset Management USA Corp grew its position in shares of Warby Parker by 9.1% in the third quarter. Lombard Odier Asset Management USA Corp now owns 18,818 shares of the company’s stock valued at $519,000 after purchasing an additional 1,566 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of recent analyst reports. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Wednesday, December 10th. Telsey Advisory Group restated an “outperform” rating and set a $32.00 price objective on shares of Warby Parker in a report on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday, December 15th. UBS Group reduced their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Finally, Citigroup raised shares of Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Warby Parker has an average rating of “Moderate Buy” and an average target price of $26.75.

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.