Insider Selling: Warby Parker Inc. (NYSE:WRBY) CEO Sells $352,859.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 27,143 shares of Warby Parker stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $158,301. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Neil Harris Blumenthal also recently made the following trade(s):

• On Monday, September 9th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The shares were sold at an average price of $13.89, for a total value of $694,500.00.

Warby Parker Price Performance

WRBY stock opened at $14.37 on Friday. Warby Parker Inc. has a 52-week low of $9.83 and a 52-week high of $17.95. The business has a fifty day moving average of $14.98 and a two-hundred day moving average of $14.53.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. The company had revenue of $188.22 million for the quarter, compared to analysts’ expectations of $186.89 million. Sell-side analysts forecast that Warby Parker Inc. will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WRBY. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Friday, August 23rd. Stifel Nicolaus boosted their target price on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Piper Sandler began coverage on Warby Parker in a report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 price target for the company. Finally, Loop Capital lifted their price objective on Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and an average price target of $17.11.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds have recently made changes to their positions in WRBY. Victory Capital Management Inc. acquired a new position in Warby Parker during the fourth quarter worth $160,000. National Bank of Canada FI acquired a new position in Warby Parker during the 4th quarter worth about $1,243,000. Charles Schwab Investment Management Inc. boosted its holdings in Warby Parker by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 612,448 shares of the company’s stock valued at $8,636,000 after acquiring an additional 13,526 shares during the period. Versor Investments LP acquired a new position in Warby Parker in the 4th quarter valued at about $221,000. Finally, NBC Securities Inc. grew its position in Warby Parker by 25.5% in the 4th quarter. NBC Securities Inc. now owns 37,838 shares of the company’s stock valued at $533,000 after acquiring an additional 7,680 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

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.