Warby Parker Inc. (NYSE:WRBY) Major Shareholder Sells $86,130,000.00 in Stock

Warby Parker Inc. (NYSE:WRBY) major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of Warby Parker stock in a transaction on Friday, June 14th. The stock was sold at an average price of $15.66, for a total value of $86,130,000.00. Following the sale, the insider now owns 9,444,023 shares of the company’s stock, valued at $147,893,400.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Warby Parker Price Performance

WRBY stock opened at $15.37 on Thursday. The business has a 50-day moving average price of $14.92 and a 200 day moving average price of $13.74. The company has a market capitalization of $1.52 billion, a P/E ratio of -32.70 and a beta of 1.86. Warby Parker Inc. has a 1-year low of $9.83 and a 1-year high of $17.95.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.01. The firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $196.25 million. Warby Parker had a negative return on equity of 13.19% and a negative net margin of 7.89%. On average, analysts anticipate that Warby Parker Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Warby Parker

Several institutional investors and hedge funds have recently made changes to their positions in the company. TimesSquare Capital Management LLC purchased a new position in Warby Parker in the fourth quarter valued at about $9,542,000. AIA Group Ltd grew its stake in Warby Parker by 49.8% in the fourth quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock valued at $2,325,000 after purchasing an additional 54,839 shares during the last quarter. Invenomic Capital Management LP purchased a new position in Warby Parker in the fourth quarter valued at about $3,432,000. Vanguard Group Inc. grew its stake in Warby Parker by 2.9% in the third quarter. Vanguard Group Inc. now owns 7,850,634 shares of the company’s stock valued at $103,314,000 after purchasing an additional 219,160 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its stake in Warby Parker by 18.9% in the third quarter. Rock Springs Capital Management LP now owns 1,575,000 shares of the company’s stock valued at $20,727,000 after purchasing an additional 250,000 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on WRBY. UBS Group lifted their target price on Warby Parker from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Morgan Stanley lifted their target price on Warby Parker from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Thursday, May 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker currently has a consensus rating of “Hold” and an average price target of $16.50.

About Warby Parker

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.