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

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 2,345 shares of Warby Parker 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 transaction, the chief executive officer owned 50,165 shares in the company, valued at $1,207,973.20. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Trading Up 3.9%

Shares of NYSE:WRBY traded up $0.97 during trading on Monday, hitting $25.83. 3,492,314 shares of the company’s stock traded hands, compared to its average volume of 2,084,250. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $31.00. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 1,292.10 and a beta of 2.07. The company has a 50-day moving average price of $23.15 and a 200-day moving average price of $23.10.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently bought and sold shares of WRBY. JPMorgan Chase & Co. raised its position in Warby Parker by 32.5% in the 4th quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock valued at $210,907,000 after buying an additional 2,375,726 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Warby Parker during the 4th quarter worth approximately $46,484,000. SRS Investment Management LLC bought a new stake in shares of Warby Parker during the 4th quarter worth approximately $31,277,000. Goldman Sachs Group Inc. raised its stake in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after purchasing an additional 929,073 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Warby Parker by 71.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,078,778 shares of the company’s stock worth $45,298,000 after purchasing an additional 865,345 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.