Neil Harris Blumenthal Sells 36,300 Shares of Warby Parker (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 36,300 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $30.04, for a total value of $1,090,452.00. Following the sale, the chief executive officer owned 59,459 shares of the company’s stock, valued at $1,786,148.36. This represents a 37.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 Wednesday, July 1st, Neil Harris Blumenthal sold 217,667 shares of Warby Parker stock. The shares were sold at an average price of $29.61, for a total value of $6,445,119.87.
• On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The shares were sold at an average price of $30.03, for a total value 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 value of $563,069.78.
• On Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The stock was 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 0.7%

WRBY opened at $29.18 on Friday. Warby Parker Inc. has a 52-week low of $14.96 and a 52-week high of $31.00. The company has a 50 day moving average of $25.71 and a two-hundred day moving average of $24.89. The company has a market cap of $3.12 billion, a P/E ratio of 1,459.48, a P/E/G ratio of 5.87 and a beta of 1.91.

Warby Parker (NYSE:WRBY) last issued 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). Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The business had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. During the same period in the prior year, the business posted $0.03 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Institutional Trading of Warby Parker

Several large investors have recently modified their holdings of the business. First Horizon Corp lifted its stake in shares of Warby Parker by 96.7% in the fourth 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. EverSource Wealth Advisors LLC boosted its holdings in Warby Parker by 105.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after purchasing an additional 673 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Warby Parker during the 4th quarter valued at approximately $35,000. Farther Finance Advisors LLC grew its stake in Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after purchasing an additional 494 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Warby Parker by 110.7% during the 1st quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $39,000 after purchasing an additional 965 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WRBY has been the subject of a number of recent research reports. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. BTIG Research boosted their price target on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Finally, UBS Group increased their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.82.

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.