Neil Harris Blumenthal Sells 2,345 Shares of Warby Parker (NYSE:WRBY) Stock

Key Points

• Neil Harris Blumenthal, Warby Parker's CEO, sold a total of 100,000 shares between April 16–20 (about $2.47 million) under a pre-arranged Rule 10b5-1 plan, with the April 16 sale alone representing a 4.47% reduction in his holdings.
• WRBY shares traded up 3.9% to $25.83 on heavy volume; the company has a $2.76 billion market cap, 50- and 200-day moving averages near $23, and an elevated P/E of roughly 1,292.
• Brokerages are mixed but generally favorable — the consensus rating is Moderate Buy with a $28.09 target — while institutional ownership is very high at 93.24%, with firms like AQR and Goldman increasing positions.

Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 2,345 shares of the firm's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $24.08, for a total value of $56,467.60. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company's stock, valued at approximately $1,207,973.20. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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, April 20th, Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock. The shares were sold at an average price of $25.09, for a total value of $563,069.78.
• On Friday, April 17th, Neil Harris Blumenthal sold 75,213 shares of Warby Parker stock. The stock was sold at an average price of $24.56, for a total value of $1,847,231.28.

Warby Parker Stock Up 3.9%

WRBY stock traded up $0.97 during midday trading on Monday, reaching $25.83. The stock had a trading volume of 3,492,314 shares, compared to its average volume of 2,084,250. The business has a fifty day simple moving average of $23.15 and a two-hundred day simple moving average of $23.10. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 1,292.10 and a beta of 2.07. Warby Parker Inc. has a twelve month low of $13.63 and a twelve month high of $31.00.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in shares of Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company's stock valued at $3,122,000 after purchasing an additional 86,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company's stock valued at $961,000 after purchasing an additional 2,297 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company's stock valued at $34,433,000 after purchasing an additional 929,073 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Warby Parker during the 1st quarter valued at about $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Warby Parker by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company's stock valued at $4,685,000 after purchasing an additional 38,395 shares in the last quarter. Institutional investors own 93.24% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WRBY. UBS Group reiterated a "neutral" rating and issued a $20.00 price objective on shares of Warby Parker in a research report on Wednesday, February 25th. Citigroup lifted their price objective on Warby Parker from $18.00 to $24.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 17th. Telsey Advisory Group reiterated an "outperform" rating and issued a $32.00 price objective on shares of Warby Parker in a research report on Friday, February 20th. Finally, Weiss Ratings lowered Warby Parker from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, March 2nd. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.09.

About Warby Parker

Warby Parker, Inc NYSE: WRBY is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.

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