Key Points
- Warby Parker director Youngme Moon sold 10,000 shares on June 12 at an average price of $26.53, totaling $265,300. After the sale, Moon still held 26,061 shares.
- The stock has been trading near its 52-week high, opening at $26.32 versus a 1-year range of $14.96 to $31.00, with a market cap of about $2.82 billion.
- Analysts remain generally positive on Warby Parker despite a recent earnings miss: the company posted $0.03 EPS versus $0.11 expected, while Wall Street maintains a “Moderate Buy” consensus and a $29.50 price target.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) Director Youngme Moon sold 10,000 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.53, for a total value of $265,300.00. Following the sale, the director directly owned 26,061 shares of the company's stock, valued at approximately $691,398.33. This represents a 27.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Warby Parker Price Performance
Shares of Warby Parker stock opened at $26.32 on Friday. The stock has a fifty day moving average price of $24.31 and a 200-day moving average price of $24.30. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00. The firm has a market cap of $2.82 billion, a PE ratio of 1,316.86 and a beta of 1.96.
Warby Parker (NYSE:WRBY - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) 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 firm had revenue of $242.45 million during the quarter, compared to analysts' expectations of $239.44 million. During the same period in the prior year, the business earned $0.03 earnings per share. The business's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Citigroup reissued a "market outperform" rating on shares of Warby Parker in a research report on Friday, May 22nd. BTIG Research raised 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. Weiss Ratings raised Warby Parker from a "sell (d)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Piper Sandler reissued an "overweight" rating on shares of Warby Parker in a research report on Tuesday, May 19th. Finally, Telsey Advisory Group raised 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. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Warby Parker has an average rating of "Moderate Buy" and a consensus price target of $29.50.
Check Out Our Latest Stock Analysis on WRBY
Hedge Funds Weigh In On Warby Parker
Several hedge funds have recently made changes to their positions in WRBY. AQR Capital Management LLC grew its position in shares of Warby Parker by 101.0% in the first 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. grew its position in shares of Warby Parker by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company's stock valued at $961,000 after purchasing an additional 2,297 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Warby Parker by 96.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company's stock valued at $34,433,000 after purchasing an additional 929,073 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Warby Parker in the first quarter valued at $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 valued at $4,685,000 after purchasing an additional 38,395 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other 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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