Neil Harris Blumenthal Sells 300,000 Shares of Warby Parker Inc. (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 300,000 shares of Warby Parker stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total value of $7,542,000.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $306,129.78. This trade represents a 96.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, December 20th, Neil Harris Blumenthal sold 93,946 shares of Warby Parker stock. The stock was sold at an average price of $25.08, for a total transaction of $2,356,165.68.
• On Wednesday, December 18th, Neil Harris Blumenthal sold 56,054 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total transaction of $1,406,394.86.
• On Monday, December 9th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00.
• On Tuesday, December 3rd, Neil Harris Blumenthal sold 36,163 shares of Warby Parker stock. The stock was sold at an average price of $22.61, for a total transaction of $817,645.43.

Warby Parker Price Performance

Warby Parker stock opened at $26.37 on Tuesday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -97.67 and a beta of 1.88. Warby Parker Inc. has a 1-year low of $11.35 and a 1-year high of $27.10. The firm has a 50 day simple moving average of $22.64 and a 200-day simple moving average of $17.95.

Hedge Funds Weigh In On Warby Parker

Several large investors have recently modified their holdings of WRBY. Blueshift Asset Management LLC purchased a new position in shares of Warby Parker during the 3rd quarter worth approximately $1,223,000. State Street Corp increased its holdings in Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after purchasing an additional 69,108 shares during the period. Maverick Capital Ltd. purchased a new stake in shares of Warby Parker during the second quarter worth approximately $1,465,000. Driehaus Capital Management LLC raised its holdings in shares of Warby Parker by 43.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock valued at $12,952,000 after purchasing an additional 246,011 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Warby Parker by 3.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after buying an additional 78,295 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the company from $15.00 to $18.00 in a report on Monday, October 21st. Stifel Nicolaus upped their price target on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. BTIG Research raised their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler raised their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.73.

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.