Insider Selling: Warby Parker Inc. (NYSE:WRBY) CEO Sells $2,356,165.68 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 93,946 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $25.08, for a total transaction of $2,356,165.68. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $305,399.16. The trade was a 88.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, December 18th, Neil Harris Blumenthal sold 56,054 shares of Warby Parker stock. The stock was sold at an average price of $25.09, for a total value of $1,406,394.86.
• On Monday, December 9th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00.
• On Tuesday, December 3rd, Neil Harris Blumenthal sold 36,163 shares of Warby Parker stock. The shares were sold at an average price of $22.61, for a total value of $817,645.43.

Warby Parker Trading Down 2.4 %

NYSE WRBY opened at $24.42 on Friday. The firm has a market cap of $2.48 billion, a PE ratio of -90.44 and a beta of 1.93. Warby Parker Inc. has a 1-year low of $11.35 and a 1-year high of $25.89. The stock has a 50-day moving average of $21.72 and a 200-day moving average of $17.53.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WRBY. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. JMP Securities increased their price target on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Telsey Advisory Group raised their price objective on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Robert W. Baird upped their target price on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.73.

Institutional Trading of Warby Parker

Several hedge funds and other institutional investors have recently bought and sold shares of WRBY. First Eagle Investment Management LLC purchased a new position in shares of Warby Parker in the second quarter worth $131,000. Choreo LLC purchased a new position in shares of Warby Parker in the second quarter valued at about $167,000. AQR Capital Management LLC bought a new position in shares of Warby Parker during the second quarter valued at about $186,000. Thrivent Financial for Lutherans purchased a new stake in shares of Warby Parker during the third quarter worth about $213,000. Finally, LVW Advisors LLC grew its stake in shares of Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

About Warby Parker

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.