Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 50,000 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. The trade was a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, January 2nd, Neil Harris Blumenthal sold 300,000 shares of Warby Parker stock. The stock was sold at an average price of $25.14, for a total transaction of $7,542,000.00.
• On Friday, December 20th, Neil Harris Blumenthal sold 93,946 shares of Warby Parker stock. The stock was sold at an average price of $25.08, for a total transaction of $2,356,165.68.
• On Wednesday, December 18th, Neil Harris Blumenthal sold 56,054 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total transaction of $1,406,394.86.
• On Monday, December 9th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The shares were sold at an average price of $23.65, for a total transaction 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 transaction of $817,645.43.

Warby Parker Trading Down 1.6 %

Warby Parker stock opened at $26.88 on Wednesday. Warby Parker Inc. has a 1-year low of $11.35 and a 1-year high of $28.68. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -99.56 and a beta of 1.90. The firm’s fifty day moving average price is $24.99 and its two-hundred day moving average price is $19.45.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WRBY. AQR Capital Management LLC bought a new position in shares of Warby Parker in the second quarter valued at $186,000. Millennium Management LLC lifted its position in shares of Warby Parker by 26.6% during the second quarter. Millennium Management LLC now owns 299,151 shares of the company’s stock valued at $4,804,000 after purchasing an additional 62,865 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Warby Parker by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock valued at $717,000 after purchasing an additional 3,007 shares in the last quarter. Algert Global LLC lifted its position in shares of Warby Parker by 81.8% during the second quarter. Algert Global LLC now owns 40,346 shares of the company’s stock valued at $648,000 after purchasing an additional 18,154 shares in the last quarter. Finally, LVW Advisors LLC lifted its position in shares of Warby Parker by 27.9% during the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WRBY has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. BTIG Research upped their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Robert W. Baird increased their target price on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group raised their price target on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.67.

Warby Parker Company Profile

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.