Key Points
- Warby Parker director Bradley Singer sold 20,167 shares on May 13 at an average price of $28.51, totaling about $574,961. After the sale, he still held 104,833 shares, reducing his ownership by 16.13%.
- The stock was little changed, down 0.5%, and opened Friday at $28.75, near its 52-week high of $31.00. The company’s market value is about $3.08 billion.
- Warby Parker’s latest earnings beat revenue expectations but missed on profit, reporting $0.03 EPS versus the $0.11 consensus while revenue rose 8.4% year over year to $242.45 million. Analysts currently rate the stock a consensus “Moderate Buy” with an average target price of $29.00.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) Director Bradley Singer sold 4,833 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $29.01, for a total value of $140,205.33. Following the completion of the transaction, the director directly owned 100,000 shares of the company's stock, valued at approximately $2,901,000. This trade represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Warby Parker Stock Performance
Shares of NYSE:WRBY opened at $28.75 on Friday. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The business has a 50-day simple moving average of $23.67 and a two-hundred day simple moving average of $23.36. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 1,437.97 and a beta of 1.95.
Warby Parker (NYSE:WRBY - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The business had revenue of $242.45 million during the quarter, compared to analysts' expectations of $239.44 million. During the same period last year, the firm posted $0.03 EPS. Warby Parker's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts predict that Warby Parker Inc. will post 0.24 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Warby Parker by 3.2% in the third quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company's stock valued at $294,155,000 after acquiring an additional 327,830 shares during the period. JPMorgan Chase & Co. lifted its holdings in Warby Parker by 32.5% in the fourth quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company's stock valued at $210,907,000 after acquiring an additional 2,375,726 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Warby Parker by 31.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company's stock valued at $63,806,000 after acquiring an additional 722,627 shares during the period. Bank of New York Mellon Corp lifted its holdings in Warby Parker by 17.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,594,171 shares of the company's stock valued at $56,527,000 after acquiring an additional 381,071 shares during the period. Finally, State Street Corp lifted its holdings in Warby Parker by 9.2% in the fourth quarter. State Street Corp now owns 2,408,610 shares of the company's stock valued at $52,484,000 after acquiring an additional 202,029 shares during the period. Institutional investors own 93.24% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on WRBY shares. BTIG Research boosted their target price 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 boosted their target price on Warby Parker from $18.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 17th. Weiss Ratings raised Warby Parker from a "sell (d)" rating to a "hold (c-)" rating in a research report on Monday. Telsey Advisory Group boosted their target price on Warby Parker from $32.00 to $33.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Finally, UBS Group increased their target price on Warby Parker from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Warby Parker presently has an average rating of "Moderate Buy" and an average target price of $29.00.
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About Warby Parker
(
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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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