Neil Harris Blumenthal Sells 50,000 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $27.08, for a total value of $1,354,000.00. Following the completion of the sale, the chief executive officer owned 37,119 shares in the company, valued at $1,005,182.52. This represents a 57.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Neil Harris Blumenthal also recently made the following trade(s):

• On Tuesday, January 6th, Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock. The stock was sold at an average price of $25.09, for a total value of $3,763,500.00.
• On Thursday, December 11th, Neil Harris Blumenthal sold 100,000 shares of Warby Parker stock. The shares were sold at an average price of $30.29, for a total transaction of $3,029,000.00.

Warby Parker Price Performance

Shares of WRBY stock opened at $28.28 on Friday. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00. The firm has a market cap of $2.99 billion, a PE ratio of 2,828.20 and a beta of 2.05. The company has a 50-day moving average of $21.90 and a two-hundred day moving average of $23.56.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $221.68 million during the quarter, compared to analysts’ expectations of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. Warby Parker’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. Sell-side analysts anticipate that Warby Parker Inc. will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WRBY shares. Robert W. Baird set a $35.00 price objective on Warby Parker in a research note on Wednesday, December 17th. Citigroup raised Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th. UBS Group cut their price target on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Citizens Jmp raised shares of 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. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $32.00 price objective on shares of Warby Parker in a report on Wednesday, December 17th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.75.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently made changes to their positions in WRBY. Farther Finance Advisors LLC raised its holdings in Warby Parker by 259.3% in the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after acquiring an additional 861 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Warby Parker by 400.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after purchasing an additional 1,281 shares during the last quarter. Huntington National Bank lifted its position in shares of Warby Parker by 111.0% during the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after purchasing an additional 881 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Warby Parker by 56.7% during the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after purchasing an additional 850 shares during the last quarter. Finally, Anderson Financial Strategies LLC grew its stake in shares of Warby Parker by 39.0% during the first quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company’s stock worth $72,000 after purchasing an additional 1,109 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.