Warby Parker (NYSE:WRBY) Director Sells $129,700.00 in Stock

Warby Parker Inc. (NYSE:WRBY) Director Teresa Briggs sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total transaction of $129,700.00. Following the sale, the director owned 48,883 shares in the company, valued at approximately $1,268,025.02. This represents a 9.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Warby Parker Stock Performance

Shares of Warby Parker stock opened at $25.95 on Friday. The firm has a 50-day simple moving average of $24.78 and a two-hundred day simple moving average of $24.51. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The company has a market cap of $2.78 billion, a P/E ratio of 1,298.00 and a beta of 1.96.

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 business had revenue of $242.45 million for 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%. Warby Parker’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. Equities research analysts forecast that Warby Parker Inc. will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Warby Parker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Horizon Corp increased its position in shares of 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 purchasing an additional 595 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Warby Parker by 105.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after acquiring an additional 673 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Warby Parker during the fourth quarter worth about $35,000. Farther Finance Advisors LLC lifted its position in shares of Warby Parker by 41.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after purchasing an additional 494 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake 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 valued at $39,000 after purchasing an additional 965 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Telsey Advisory Group upped their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. UBS Group upped their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Finally, Citigroup restated a “market outperform” rating on shares of Warby Parker in a report on Friday, May 22nd. Nine 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 company currently has an average rating of “Moderate Buy” and an average target price of $29.50.

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.