Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 217,667 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 217,667 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.61, for a total transaction of $6,445,119.87. Following the sale, the chief executive officer owned 31,112 shares in the company, valued at $921,226.32. This trade represents a 87.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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, June 29th, Neil Harris Blumenthal sold 36,300 shares of Warby Parker stock. The stock was sold at an average price of $30.04, for a total transaction of $1,090,452.00.
• On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The shares were sold at an average price of $30.03, for a total transaction of $1,893,091.20.
• 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 transaction 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 transaction of $1,847,231.28.
• On Thursday, April 16th, Neil Harris Blumenthal sold 2,345 shares of Warby Parker stock. The shares were sold at an average price of $24.08, for a total value of $56,467.60.

Warby Parker Stock Performance

Shares of WRBY stock opened at $29.18 on Friday. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00. The business’s fifty day moving average is $25.71 and its 200-day moving average is $24.89. The stock has a market cap of $3.12 billion, a PE ratio of 1,459.48, a price-to-earnings-growth ratio of 5.87 and a beta of 1.91.

Warby Parker (NYSE:WRBY) last announced its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $242.45 million for the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. Equities research analysts predict that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WRBY. Parallel Advisors LLC increased its position in shares of Warby Parker by 110.7% in the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after acquiring an additional 965 shares in the last quarter. Essential Partners LLC raised its holdings in shares of Warby Parker by 44.2% during the first quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock valued at $54,000 after acquiring an additional 788 shares during the period. Bank of America Corp DE lifted its position in shares of Warby Parker by 30.9% in the 1st quarter. Bank of America Corp DE now owns 1,377,646 shares of the company’s stock valued at $29,027,000 after acquiring an additional 325,250 shares in the last quarter. Atreides Management LP lifted its position in shares of Warby Parker by 74.8% in the 1st quarter. Atreides Management LP now owns 686,995 shares of the company’s stock valued at $14,475,000 after acquiring an additional 293,910 shares in the last quarter. Finally, Amundi acquired a new position in Warby Parker in the 1st quarter worth approximately $251,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. BTIG Research lifted their price target on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. UBS Group upped their price target on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Bank of America assumed coverage on Warby Parker in a research note on Monday. They set a “buy” rating and a $33.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.82.

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.