Key Points
- Warby Parker CEO Neil Blumenthal sold 73,133 shares for about $2.20 million at an average price of $30.13 under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by 67% to 36,020 shares.
- The company’s latest quarter showed revenue up 10.4% year over year to $244.74 million, but EPS of $0.04 fell short of the $0.09 consensus estimate.
- Analysts’ average rating is Moderate Buy, with an average price target of $31.42; shares opened at $26.73, and the article reports an 11.4% decline.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Blumenthal sold 73,133 shares of the firm's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $30.13, for a total transaction of $2,203,497.29. Following the completion of the transaction, the chief executive officer owned 36,020 shares in the company, valued at $1,085,282.60. The trade was a 67.00% decrease in their position. The transaction was disclosed in a document filed 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 Thursday, October 1st, Neil Blumenthal sold 100,000 shares of Warby Parker stock. The shares were sold at an average price of $27.69, for a total transaction of $2,769,000.00.
Warby Parker Stock Down 11.4%
Shares of WRBY stock opened at $26.73 on Friday. Warby Parker Inc. has a fifty-two week low of $16.26 and a fifty-two week high of $31.75. The firm's 50 day moving average price is $25.30 and its two-hundred day moving average price is $25.17. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 445.51, a price-to-earnings-growth ratio of 9.87 and a beta of 1.95.
Warby Parker (NYSE:WRBY - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). Warby Parker had a return on equity of 3.36% and a net margin of 0.80%. The business had revenue of $244.74 million during the quarter, compared to analyst estimates of $244.92 million. During the same period in the previous year, the company earned $0.05 EPS. Warby Parker's revenue was up 10.4% on a year-over-year basis. On average, equities analysts forecast that Warby Parker Inc. will post 0.12 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts recently weighed in on WRBY shares. UBS Group upped their price target on shares of Warby Parker from $28.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, November 6th. Roth Capital reiterated a "neutral" rating and issued a $28.00 price target on shares of Warby Parker in a report on Wednesday, August 5th. Citigroup reissued a "market outperform" rating on shares of Warby Parker in a research report on Thursday, September 17th. The Goldman Sachs Group restated a "buy" rating and set a $32.00 price objective on shares of Warby Parker in a research note on Friday, November 6th. Finally, Weiss Ratings cut Warby Parker from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Warby Parker currently has an average rating of "Moderate Buy" and an average target price of $31.42.
Check Out Our Latest Report on Warby Parker
Hedge Funds Weigh In On Warby Parker
A number of institutional investors and hedge funds have recently bought and sold shares of WRBY. Ranger Investment Management L.P. acquired a new stake in Warby Parker in the second quarter valued at approximately $30,949,000. Public Sector Pension Investment Board lifted its position in shares of Warby Parker by 96.6% during the third quarter. Public Sector Pension Investment Board now owns 679,808 shares of the company's stock worth $17,750,000 after purchasing an additional 333,938 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Warby Parker by 30.9% during the first quarter. Bank of America Corp DE now owns 1,377,646 shares of the company's stock worth $29,027,000 after purchasing an additional 325,250 shares in the last quarter. Atreides Management LP lifted its position in shares of Warby Parker by 74.8% during the first quarter. Atreides Management LP now owns 686,995 shares of the company's stock worth $14,475,000 after purchasing an additional 293,910 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Warby Parker by 133.4% during the third quarter. First Trust Advisors LP now owns 395,933 shares of the company's stock worth $10,999,000 after purchasing an additional 226,304 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.
Warby Parker Company Profile
(
Get Free Report)
Warby Parker Inc. is an eyewear company that sells prescription glasses, sunglasses, and contact lenses through its website and retail stores. It also offers vision-related services, including eye exams at select locations. Founded in 2010, the company helped popularize a direct-to-consumer model for eyewear and has since expanded its network of stores. Warby Parker serves customers primarily in the United States and Canada. The company was co-founded by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
