Key Points
- Warby Parker CEO Neil Harris Blumenthal sold 63,040 shares on May 19 at an average price of $30.03, totaling about $1.89 million. The sale, disclosed in an SEC filing, was made under a pre-arranged Rule 10b5-1 plan.
- Blumenthal has also sold additional Warby Parker shares in recent weeks, including transactions on April 16, April 17, and April 20, reducing his position significantly overall.
- Warby Parker recently reported quarterly EPS of $0.03, missing expectations, while revenue rose 8.4% year over year to $242.45 million. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $29.50.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 63,040 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $30.03, for a total transaction of $1,893,091.20. Following the transaction, the chief executive officer directly owned 50,165 shares of the company's stock, valued at $1,506,454.95. This represents a 55.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Harris Blumenthal also recently made the following trade(s):
- On Monday, April 20th, Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total transaction of $563,069.78.
- On Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The shares were 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 Performance
Shares of WRBY opened at $24.52 on Friday. The company has a 50-day simple moving average of $23.67 and a 200-day simple moving average of $23.54. The firm has a market capitalization of $2.63 billion, a P/E ratio of 1,226.76 and a beta of 1.95. Warby Parker Inc. has a 52 week low of $14.96 and a 52 week high of $31.00.
Warby Parker (NYSE:WRBY - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. During the same period in the prior year, the company posted $0.03 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts forecast that Warby Parker Inc. will post 0.24 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on WRBY. Weiss Ratings upgraded shares of Warby Parker from a "sell (d)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. UBS Group lifted their price target on shares of Warby Parker from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Telsey Advisory Group increased their target price on Warby Parker from $32.00 to $33.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Piper Sandler reissued an "overweight" rating on shares of Warby Parker in a report on Tuesday. Finally, BTIG Research boosted their price target on Warby Parker from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.50.
Get Our Latest Research Report on WRBY
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Essential Partners LLC lifted its holdings in shares of Warby Parker by 44.2% during the first quarter. Essential Partners LLC now owns 2,570 shares of the company's stock valued at $54,000 after acquiring an additional 788 shares during the period. Bank of America Corp DE lifted its holdings in shares of Warby Parker by 30.9% during the first quarter. Bank of America Corp DE now owns 1,377,646 shares of the company's stock valued at $29,027,000 after acquiring an additional 325,250 shares during the period. Atreides Management LP lifted its holdings in shares of Warby Parker by 74.8% during the first quarter. Atreides Management LP now owns 686,995 shares of the company's stock valued at $14,475,000 after acquiring an additional 293,910 shares during the period. Amundi bought a new stake in Warby Parker during the 1st quarter worth approximately $251,000. Finally, EverSource Wealth Advisors LLC grew its position in Warby Parker by 105.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company's stock worth $28,000 after acquiring an additional 673 shares during the last quarter. 93.24% of the stock is owned by institutional investors.
Warby Parker Company Profile
(
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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