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

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 value of $6,445,119.87. Following the completion of the transaction, the chief executive officer directly owned 31,112 shares of the company’s stock, valued at approximately $921,226.32. This trade represents a 87.49% decrease in their position. The sale was disclosed in a legal 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 shares were 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 stock was 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 stock was 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 transaction of $56,467.60.

Warby Parker Stock Down 0.3%

Shares of Warby Parker stock opened at $29.18 on Friday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 1,459.48, a price-to-earnings-growth ratio of 5.85 and a beta of 1.91. The company’s 50 day moving average is $25.80 and its 200 day moving average is $24.92. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. Sell-side analysts expect that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kingdon Capital Management L.L.C. bought a new stake in shares of Warby Parker during the 3rd quarter valued at $9,653,000. Udine Wealth Management Inc. purchased a new position in shares of Warby Parker during the 4th quarter valued at $1,284,000. Natixis Advisors LLC lifted its stake in shares of Warby Parker by 13.1% during the 3rd quarter. Natixis Advisors LLC now owns 410,540 shares of the company’s stock valued at $11,323,000 after buying an additional 47,536 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in Warby Parker by 34.2% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,353,554 shares of the company’s stock worth $29,494,000 after buying an additional 344,879 shares during the period. Finally, Primoris Wealth Advisors LLC bought a new position in Warby Parker in the 4th quarter worth $1,781,000. Institutional investors own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on WRBY shares. UBS Group lifted their price objective on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. BTIG Research increased their target price on Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Finally, Telsey Advisory Group boosted their price target on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.82.

About Warby Parker

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.