Key Points
- CEO Neil Harris Blumenthal sold 660 shares on Jan. 13 for $19,793.40 (avg. $29.99), leaving him with 37,119 shares; this continues a recent string of large insider sales (150,000 on Jan. 6, 50,000 on Jan. 7, 100,000 on Dec. 11) and reduced his ownership notably.
- Warby Parker missed quarterly EPS estimates ($0.06 vs. $0.09) while revenue rose 15.2% year‑over‑year to $221.7M; the stock trades around $28.32 (above its 50‑ and 200‑day moving averages) and carries a MarketBeat consensus of "Moderate Buy" with a $26.75 price target.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 660 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $29.99, for a total transaction of $19,793.40. Following the sale, the chief executive officer directly owned 37,119 shares of the company's stock, valued at approximately $1,113,198.81. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Neil Harris Blumenthal also recently made the following trade(s):
- On Wednesday, January 7th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The shares were sold at an average price of $27.08, for a total transaction of $1,354,000.00.
- On Tuesday, January 6th, Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock. The stock was sold at an average price of $25.09, for a total transaction of $3,763,500.00.
- On Thursday, December 11th, Neil Harris Blumenthal sold 100,000 shares of Warby Parker stock. The shares were sold at an average price of $30.29, for a total value of $3,029,000.00.
Warby Parker Stock Performance
NYSE:WRBY opened at $28.32 on Friday. The stock's fifty day moving average is $22.65 and its 200 day moving average is $23.72. The firm has a market capitalization of $2.99 billion, a PE ratio of 2,831.80 and a beta of 2.05. Warby Parker Inc. has a fifty-two week low of $13.63 and a fifty-two week high of $31.00.
Warby Parker (NYSE:WRBY - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $221.68 million during the quarter, compared to analysts' expectations of $224.49 million. Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the company earned ($0.03) earnings per share. Equities analysts forecast that Warby Parker Inc. will post -0.12 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have commented on WRBY. Stifel Nicolaus upped their target price on shares of Warby Parker from $19.00 to $25.00 and gave the stock a "hold" rating in a research note on Friday, December 12th. Telsey Advisory Group restated an "outperform" rating and issued a $32.00 price objective on shares of Warby Parker in a report on Wednesday, December 17th. Wall Street Zen cut shares of Warby Parker from a "buy" rating to a "hold" rating in a report on Saturday, November 1st. Robert W. Baird set a $35.00 price target on shares of Warby Parker in a report on Wednesday, December 17th. Finally, BTIG Research increased their price objective on shares of Warby Parker from $25.00 to $32.00 and gave the company 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.75.
Read Our Latest Analysis on Warby Parker
Institutional Trading of Warby Parker
Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Warby Parker by 101.0% during the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company's stock worth $3,122,000 after purchasing an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 buying an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company's stock valued at $34,433,000 after acquiring an additional 929,073 shares during the period. Caxton Associates LLP purchased a new stake in shares of Warby Parker in the 1st quarter valued at $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Warby Parker by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company's stock worth $4,685,000 after acquiring an additional 38,395 shares during the period. Hedge funds and other institutional investors own 93.24% of the company's stock.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
