Key Points
- CEO Neil Blumenthal sold 100,000 Warby Parker shares at an average price of $27.69, generating $2.769 million under a pre-arranged Rule 10b5-1 trading plan. His direct ownership fell 73.52% to 36,020 shares.
- Warby Parker reported quarterly revenue of $235.51 million, up 9.6% year over year, but earnings of $0.04 per share missed the $0.10 consensus estimate.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $30.08, while the stock recently traded near $27.01.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Blumenthal sold 100,000 shares of the business's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $27.69, for a total value of $2,769,000.00. Following the completion of the sale, the chief executive officer directly owned 36,020 shares of the company's stock, valued at $997,393.80. The trade was a 73.52% decrease in their ownership of the stock. The sale was disclosed in a filing 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.
Neil Harris Blumenthal also recently made the following trade(s):
- On Monday, July 6th, Neil Blumenthal sold 9,200 shares of Warby Parker stock. The stock was sold at an average price of $29.99, for a total value of $275,908.00.
Warby Parker Stock Performance
Shares of Warby Parker stock opened at $27.01 on Friday. 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 $25.66 and a two-hundred day moving average price of $25.22. The stock has a market capitalization of $2.92 billion, a PE ratio of 385.80, a price-to-earnings-growth ratio of 7.45 and a beta of 1.89.
Warby Parker (NYSE:WRBY - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. The firm had revenue of $235.51 million for the quarter, compared to the consensus estimate of $237.98 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company's revenue was up 9.6% compared to the same quarter last year. Research analysts forecast that Warby Parker Inc. will post 0.14 EPS for the current year.
Analysts Set New Price Targets
A number of analysts have commented on the stock. Citigroup restated a "market outperform" rating on shares of Warby Parker in a research note on Thursday, September 17th. Citizens Jmp reduced their price objective on shares of Warby Parker from $30.00 to $29.00 and set a "market outperform" rating for the company in a report on Friday, August 7th. Weiss Ratings cut shares of Warby Parker from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, September 25th. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of Warby Parker in a research report on Thursday, September 17th. Finally, UBS Group upped their target price on shares of Warby Parker from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.08.
Get Our Latest Analysis on WRBY
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Warby Parker by 105.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company's stock valued at $28,000 after purchasing an additional 673 shares during the last quarter. Essential Partners LLC grew its position in 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 buying an additional 788 shares during the period. Parallel Advisors LLC grew its position in Warby Parker by 110.7% during the first 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 period. IFP Advisors Inc increased its holdings in Warby Parker by 7.5% during the second quarter. IFP Advisors Inc now owns 19,453 shares of the company's stock worth $590,000 after buying an additional 1,355 shares during the last quarter. Finally, Corient Private Wealth LP increased its holdings in Warby Parker by 1.8% during the second quarter. Corient Private Wealth LP now owns 118,845 shares of the company's stock worth $3,606,000 after buying an additional 2,127 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 is an omnichannel eyewear company that designs, produces, and sells prescription eyeglasses, sunglasses, contact lenses, and related vision-care products. The company serves customers through its e-commerce platform, retail stores, and other direct-to-consumer channels, offering products under its Warby Parker brand.
Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider, Warby Parker began as an online eyewear retailer and later expanded its physical retail presence.
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