Key Points
- Neil Harris Blumenthal sold 150,000 shares of Warby Parker on January 6 at an average price of $25.09, raising about $3.76 million and cutting his direct holding to 37,119 shares (an 80.16% decrease).
- He previously sold 100,000 shares on December 11 at $30.29; WRBY has risen about 11.6% recently, has a market cap near $2.74 billion, and carries a consensus analyst rating of "Moderate Buy" with an average target of $26.75.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 150,000 shares of the business's stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total value of $3,763,500.00. Following the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at approximately $931,315.71. This trade represents a 80.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Neil Harris Blumenthal also recently made the following trade(s):
- On Thursday, December 11th, Neil Harris Blumenthal sold 100,000 shares of Warby Parker stock. The stock was sold at an average price of $30.29, for a total transaction of $3,029,000.00.
Warby Parker Stock Up 11.6%
WRBY stock opened at $25.95 on Wednesday. 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 $2.74 billion, a P/E ratio of 2,595.40 and a beta of 2.05. The company's 50-day moving average price is $21.41 and its two-hundred day moving average price is $23.44.
Warby Parker (NYSE:WRBY - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The company had revenue of $221.68 million for the quarter, compared to the consensus estimate of $224.49 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business's quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts predict that Warby Parker Inc. will post -0.12 EPS for the current year.
Hedge Funds Weigh In On Warby Parker
Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Warby Parker by 259.3% during the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company's stock worth $33,000 after acquiring an additional 861 shares during the period. PNC Financial Services Group Inc. grew its position in Warby Parker by 400.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company's stock worth $35,000 after purchasing an additional 1,281 shares during the period. Huntington National Bank lifted its stake in shares of Warby Parker by 111.0% in the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company's stock valued at $37,000 after purchasing an additional 881 shares during the period. NewEdge Advisors LLC grew its holdings in Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company's stock valued at $65,000 after purchasing an additional 850 shares during the period. Finally, Anderson Financial Strategies LLC increased its stake in shares of Warby Parker by 39.0% during the first quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company's stock worth $72,000 after purchasing an additional 1,109 shares in the last quarter. Institutional investors own 93.24% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of Warby Parker from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. Robert W. Baird set a $35.00 target price on Warby Parker in a research note on Wednesday, December 17th. Wall Street Zen downgraded Warby Parker from a "buy" rating to a "hold" rating in a research report on Saturday, November 1st. Piper Sandler lifted their price objective on Warby Parker from $22.00 to $32.00 and gave the stock an "overweight" rating in a report on Tuesday, December 16th. Finally, BTIG Research raised their target price on Warby Parker from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, December 11th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, Warby Parker currently has an average rating of "Moderate Buy" and a consensus target price of $26.75.
Read Our Latest Analysis on WRBY
About Warby Parker
(
Get Free Report)
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.
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