Key Points
- Warby Parker CEO Neil Harris Blumenthal sold 36,300 shares on June 29 at an average price of $30.04, generating about $1.09 million in proceeds. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The CEO has been actively trimming his stake recently, including earlier sales in May and April. After the latest transaction, he directly owned 59,459 shares, a 37.91% decrease in ownership from before the sale.
- WRBY shares were down 2.8% and the stock opened at $29.48, near its 52-week high of $31.00. The company also recently reported quarterly EPS of $0.03, missing expectations, while revenue came in slightly above estimates.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 36,300 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $30.04, for a total value of $1,090,452.00. Following the transaction, the chief executive officer directly owned 59,459 shares of the company's stock, valued at approximately $1,786,148.36. This represents a 37.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neil Harris Blumenthal also recently made the following trade(s):
- On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The shares were sold at an average price of $30.03, for a total value of $1,893,091.20.
- On Monday, April 20th, Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock. The stock was sold at an average price of $25.09, for a total value of $563,069.78.
- On Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The stock was sold at an average price of $24.56, for a total value 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 value of $56,467.60.
Warby Parker Stock Down 2.8%
Shares of WRBY opened at $29.48 on Thursday. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 1,474.64, a price-to-earnings-growth ratio of 6.06 and a beta of 1.91. Warby Parker Inc. has a 52-week low of $14.96 and a 52-week high of $31.00. The stock has a 50 day moving average price of $25.62 and a 200 day moving average price of $24.88.
Warby Parker (NYSE:WRBY - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 EPS. On average, equities analysts anticipate that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on WRBY shares. Bank of America started coverage on shares of Warby Parker in a research report on Monday. They issued a "buy" rating and a $33.00 price target for the company. UBS Group upped their target price 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. Telsey Advisory Group boosted their price objective on Warby Parker from $32.00 to $33.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Piper Sandler restated an "overweight" rating on shares of Warby Parker in a research report on Tuesday, May 19th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.82.
Read Our Latest Report on Warby Parker
Institutional Trading of Warby Parker
A number of hedge funds have recently added to or reduced their stakes in the stock. First Horizon Corp grew its stake in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company's stock valued at $26,000 after purchasing an additional 595 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Warby Parker by 105.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company's stock worth $28,000 after purchasing an additional 673 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Warby Parker during the fourth quarter worth $35,000. Farther Finance Advisors LLC grew its position in Warby Parker by 41.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company's stock valued at $37,000 after buying an additional 494 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in Warby Parker by 110.7% in the 1st quarter. Parallel Advisors LLC now owns 1,837 shares of the company's stock valued at $39,000 after buying an additional 965 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.
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.
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