Key Points
- Warby Parker CEO Neil Harris Blumenthal sold 217,667 shares on July 1 at an average price of $29.61, for total proceeds of about $6.45 million. After the sale, his stake fell to 31,112 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- The CEO has also sold shares repeatedly in recent months, including additional transactions on June 29, May 19, and several dates in April. These sales suggest a notable reduction in his ownership position over time.
- Warby Parker’s stock has been trading near its 52-week high, opening at $29.18 versus a 52-week range of $14.96 to $31.00. The company recently posted revenue growth but missed EPS expectations, while analysts currently rate the stock a Moderate Buy with a consensus target of $29.82.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 217,667 shares of Warby Parker stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $29.61, for a total value of $6,445,119.87. Following the transaction, the chief executive officer owned 31,112 shares in the company, valued at $921,226.32. This represents a 87.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, June 29th, Neil Harris Blumenthal sold 36,300 shares of Warby Parker stock. The shares were sold at an average price of $30.04, for a total value of $1,090,452.00.
- On Tuesday, May 19th, Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock. The stock was 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 shares were 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 Performance
WRBY stock opened at $29.18 on Friday. The stock has a market cap of $3.12 billion, a P/E ratio of 1,459.48, a P/E/G ratio of 5.87 and a beta of 1.91. The firm has a 50 day simple moving average of $25.71 and a 200 day simple moving average of $24.89. 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 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). The company had revenue of $242.45 million during the quarter, compared to analysts' expectations of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. Sell-side analysts predict that Warby Parker Inc. will post 0.19 EPS for the current year.
Institutional Investors Weigh In On Warby Parker
Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Warby Parker by 32.5% during the fourth quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company's stock valued at $210,907,000 after buying an additional 2,375,726 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Warby Parker by 31.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company's stock worth $63,806,000 after acquiring an additional 722,627 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Warby Parker by 17.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,594,171 shares of the company's stock worth $56,527,000 after acquiring an additional 381,071 shares in the last quarter. State Street Corp increased its holdings in shares of Warby Parker by 9.2% during the 4th 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 last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Warby Parker by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,297,123 shares of the company's stock valued at $50,064,000 after acquiring an additional 11,736 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the company. Bank of America started coverage on Warby Parker in a research note on Monday. They issued a "buy" rating and a $33.00 target price on the stock. Weiss Ratings raised Warby Parker from a "sell (d)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Piper Sandler reiterated an "overweight" rating on shares of Warby Parker in a report on Tuesday, May 19th. Telsey Advisory Group boosted their price target 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, BTIG Research increased 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. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.82.
View Our Latest Report on WRBY
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.
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