Youngme Moon Sells 38,832 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) Director Youngme Moon sold 38,832 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the sale, the director directly owned 27,057 shares of the company’s stock, valued at $786,546.99. The trade was a 58.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Warby Parker Stock Down 0.7%

NYSE:WRBY opened at $26.64 on Wednesday. The company’s 50 day moving average is $20.65 and its 200-day moving average is $23.13. Warby Parker Inc. has a 12 month low of $13.63 and a 12 month high of $31.00. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 2,664.20 and a beta of 2.06.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Research analysts predict that Warby Parker Inc. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of WRBY. JPMorgan Chase & Co. lifted its stake in Warby Parker by 987.8% during the second quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company’s stock worth $113,654,000 after purchasing an additional 4,706,148 shares during the period. Nuveen LLC acquired a new position in shares of Warby Parker in the 1st quarter worth approximately $30,549,000. Artisan Partners Limited Partnership bought a new position in shares of Warby Parker during the 2nd quarter worth approximately $27,589,000. Durable Capital Partners LP boosted its stake in Warby Parker by 13.2% in the 1st quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company’s stock valued at $186,172,000 after buying an additional 1,194,558 shares in the last quarter. Finally, 12 West Capital Management LP bought a new stake in Warby Parker in the first quarter valued at $21,420,000. Institutional investors own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WRBY shares. Citigroup raised Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th. Stifel Nicolaus increased their price objective on Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Friday. Telsey Advisory Group reissued an “outperform” rating and issued a $24.00 price objective on shares of Warby Parker in a research report on Tuesday, November 18th. Citizens Jmp raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Wednesday, December 10th. Finally, UBS Group cut their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.94.

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.