Warby Parker (NYSE:WRBY) Director Bradley Singer Sells 20,167 Shares

Warby Parker Inc. (NYSE:WRBY) Director Bradley Singer sold 20,167 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $28.51, for a total value of $574,961.17. Following the transaction, the director owned 104,833 shares in the company, valued at $2,988,788.83. This trade represents a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Warby Parker Trading Down 0.5%

NYSE WRBY opened at $28.75 on Friday. The business’s 50-day moving average price is $23.67 and its 200 day moving average price is $23.36. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00. The company has a market capitalization of $3.08 billion, a PE ratio of 1,437.97 and a beta of 1.95.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 earnings per share. Equities analysts predict that Warby Parker Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

WRBY has been the topic of several research analyst reports. UBS Group lifted their price objective on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BTIG Research lifted their price objective on Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Citigroup lifted their price objective on Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Telsey Advisory Group lifted their price objective on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Hedge Funds Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Man Group plc lifted its position in Warby Parker by 1.6% during the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock worth $550,000 after acquiring an additional 400 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after acquiring an additional 494 shares in the last quarter. First Horizon Corp lifted its position 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 acquiring an additional 595 shares in the last quarter. Choreo LLC lifted its position in Warby Parker by 4.6% during the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock worth $458,000 after acquiring an additional 728 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in Warby Parker by 10.1% during the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock worth $246,000 after acquiring an additional 816 shares in the last quarter. 93.24% of the stock is 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.