Key Points
- Warby Parker Director Teresa Briggs sold 5,000 shares on June 16 at an average price of $25.94, totaling about $129,700. The sale reduced her stake by 9.28% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Warby Parker’s recent earnings were mixed: the company reported $0.03 EPS, missing expectations of $0.11, while revenue came in at $242.45 million, above estimates and up 8.4% year over year.
- Analyst sentiment remains constructive, with nine Buy ratings and five Hold ratings. The stock has a consensus target price of $29.50, above its recent trading level around $25.95.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) Director Teresa Briggs sold 5,000 shares of Warby Parker stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total value of $129,700.00. Following the completion of the sale, the director owned 48,883 shares of the company's stock, valued at $1,268,025.02. This trade represents a 9.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Warby Parker Price Performance
Shares of WRBY stock opened at $25.95 on Friday. The firm has a market cap of $2.78 billion, a P/E ratio of 1,298.00 and a beta of 1.96. Warby Parker Inc. has a 1-year low of $14.96 and a 1-year high of $31.00. The firm's 50-day simple moving average is $24.69 and its 200-day simple moving average is $24.50.
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 the consensus estimate of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company had revenue of $242.45 million during the quarter, compared to analyst estimates of $239.44 million. During the same period in the prior year, the business posted $0.03 earnings per share. Warby Parker's revenue was up 8.4% on a year-over-year basis. Analysts expect that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal year.
Institutional Trading of Warby Parker
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Warby Parker by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company's stock worth $201,426,000 after acquiring an additional 2,120,768 shares in the last quarter. Udine Wealth Management Inc. acquired a new stake in Warby Parker during the 4th quarter valued at approximately $1,284,000. Kingdon Capital Management L.L.C. purchased a new stake in Warby Parker during the 3rd quarter worth approximately $9,653,000. Vanguard Group Inc. raised its position in shares of Warby Parker by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company's stock valued at $294,155,000 after purchasing an additional 327,830 shares in the last quarter. Finally, Compass Wealth Management LLC acquired a new position in shares of Warby Parker in the 3rd quarter valued at approximately $2,184,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have recently commented on WRBY shares. BTIG Research upped their price objective on Warby Parker from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Piper Sandler reiterated an "overweight" rating on shares of Warby Parker in a report on Tuesday, May 19th. UBS Group boosted their price target on Warby Parker from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Citigroup restated a "market outperform" rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, Telsey Advisory Group raised their price objective on Warby Parker from $32.00 to $33.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $29.50.
Read Our Latest Stock Report on Warby Parker
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.
Further Reading
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