Key Points
- CEO Neil Harris Blumenthal sold 50,000 Warby Parker shares on Jan. 7 at an average price of $27.08 for $1.354M, leaving him with 37,119 shares and representing a 57.39% reduction in his position.
- Blumenthal also sold 150,000 shares on Jan. 6 (avg. $25.09) and 100,000 shares on Dec. 11 (avg. $30.29), bringing his recent insider sales to a total of 300,000 shares for roughly $8.15M.
- Warby Parker shares trade with a market cap of about $2.99B and a 12-month range of $13.63–$31.00, and analysts hold a consensus "Moderate Buy" rating with a $26.75 price target.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $27.08, for a total value of $1,354,000.00. Following the completion of the sale, the chief executive officer owned 37,119 shares in the company, valued at $1,005,182.52. This represents a 57.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Neil Harris Blumenthal also recently made the following trade(s):
- On Tuesday, January 6th, Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total value of $3,763,500.00.
- 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 value of $3,029,000.00.
Warby Parker Price Performance
NYSE WRBY opened at $28.28 on Friday. The stock has a market capitalization of $2.99 billion, a P/E ratio of 2,828.20 and a beta of 2.05. The firm's 50-day moving average is $21.90 and its two-hundred day moving average is $23.54. Warby Parker Inc. has a 12 month low of $13.63 and a 12 month high of $31.00.
Warby Parker (NYSE:WRBY - Get Free Report) last released its quarterly 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 company had revenue of $221.68 million during the quarter, compared to analysts' expectations of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. Warby Parker's revenue was up 15.2% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. As a group, analysts anticipate that Warby Parker Inc. will post -0.12 EPS for the current year.
Hedge Funds Weigh In On Warby Parker
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in Warby Parker by 15.9% in the first quarter. Advisors Asset Management Inc. now owns 21,829 shares of the company's stock worth $398,000 after acquiring an additional 2,996 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Warby Parker by 101.0% in the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company's stock valued at $3,122,000 after purchasing an additional 86,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company's stock worth $961,000 after purchasing an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Warby Parker by 96.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company's stock worth $34,433,000 after purchasing an additional 929,073 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in Warby Parker in the first quarter valued at $252,000. 93.24% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on WRBY shares. Stifel Nicolaus lifted their price objective on Warby Parker from $19.00 to $25.00 and gave the company a "hold" rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Warby Parker in a research report on Monday, December 29th. Telsey Advisory Group reiterated an "outperform" rating and set a $32.00 price target on shares of Warby Parker in a research note on Wednesday, December 17th. Piper Sandler raised their price objective on shares of Warby Parker from $22.00 to $32.00 and gave the company an "overweight" rating in a research note on Tuesday, December 16th. Finally, Robert W. Baird set a $35.00 price objective on shares of Warby Parker in a report on Wednesday, December 17th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.75.
Check Out Our Latest Research Report on WRBY
Warby Parker Company Profile
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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.
Further Reading
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