Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 2,345 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 2,345 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $24.08, for a total value of $56,467.60. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at $1,207,973.20. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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, April 20th, Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total value of $563,069.78.
• On Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The shares were sold at an average price of $24.56, for a total value of $1,847,231.28.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $25.83 on Tuesday. The stock has a market cap of $2.76 billion, a P/E ratio of 1,292.10 and a beta of 2.07. The firm has a 50 day moving average price of $23.15 and a 200 day moving average price of $23.10. Warby Parker Inc. has a 52-week low of $13.63 and a 52-week high of $31.00.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WRBY. UBS Group restated a “neutral” rating and set a $20.00 price objective on shares of Warby Parker in a report on Wednesday, February 25th. Citigroup lifted their target price on Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Weiss Ratings lowered Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $32.00 target price on shares of Warby Parker in a report on Friday, February 20th. Ten research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Warby Parker has a consensus rating of “Moderate Buy” and a consensus target price of $28.09.

Institutional Trading of Warby Parker

Hedge funds have recently bought and sold shares of the stock. First Horizon Corp raised its holdings in Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after buying an additional 595 shares during the period. Farther Finance Advisors LLC increased its holdings in Warby Parker by 259.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after purchasing an additional 861 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Warby Parker during the 4th quarter worth about $35,000. Covestor Ltd increased its holdings in Warby Parker by 5,795.3% during the 4th quarter. Covestor Ltd now owns 2,535 shares of the company’s stock worth $55,000 after purchasing an additional 2,492 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in 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 in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.