Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 22,442 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 22,442 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $25.09, for a total value of $563,069.78. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at $1,258,639.85. The trade was a 30.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The stock was sold at an average price of $24.56, for a total value of $1,847,231.28.
• On Thursday, April 16th, Neil Harris Blumenthal sold 2,345 shares of Warby Parker stock. The stock was sold at an average price of $24.08, for a total value of $56,467.60.

Warby Parker Price Performance

NYSE:WRBY opened at $25.83 on Tuesday. The business has a 50 day moving average of $23.15 and a 200 day moving average of $23.10. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 1,292.10 and a beta of 2.07. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Weiss Ratings downgraded shares of Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, March 2nd. Telsey Advisory Group reissued an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a research note on Friday, February 20th. UBS Group reissued a “neutral” rating and issued a $20.00 price target on shares of Warby Parker in a research note on Wednesday, February 25th. Finally, Citigroup boosted their price objective on Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.09.

Hedge Funds Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently modified their holdings of WRBY. AQR Capital Management LLC raised its stake in shares of Warby Parker by 101.0% during the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after acquiring an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Warby Parker by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock valued at $961,000 after acquiring an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Warby Parker by 96.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after acquiring an additional 929,073 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Warby Parker during the first quarter valued at approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Warby Parker by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after acquiring an additional 38,395 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Company Profile

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.