Neil Harris Blumenthal Sells 41,084 Shares of Warby Parker (NYSE:WRBY) Stock

Key Points

• Neil Harris Blumenthal, CEO of Warby Parker, sold 41,084 shares of the company's stock for a total value of $1,131,042.52, decreasing his ownership by 55.66%.
• Following the recent transaction, Warby Parker's stock is currently trading at around $26.37, with analysts maintaining a consensus rating of "Moderate Buy" and an average price target of approximately $24.06.
• Large institutional investors, such as JPMorgan Chase & Co., significantly increased their holdings, boosting their stake in Warby Parker by 987.8% during the second quarter.

Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 41,084 shares of Warby Parker stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $27.53, for a total value of $1,131,042.52. Following the sale, the chief executive officer owned 32,733 shares of the company's stock, valued at approximately $901,139.49. This trade represents a 55.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, August 13th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The shares were sold at an average price of $25.11, for a total value of $1,255,500.00.
• On Monday, July 21st, Neil Harris Blumenthal sold 49,600 shares of Warby Parker stock. The shares were sold at an average price of $24.21, for a total value of $1,200,816.00.
• On Friday, July 18th, Neil Harris Blumenthal sold 400 shares of Warby Parker stock. The shares were sold at an average price of $24.01, for a total value of $9,604.00.

Warby Parker Stock Performance

Shares of WRBY stock traded down $0.38 on Monday, hitting $26.37. The stock had a trading volume of 1,408,400 shares, compared to its average volume of 1,331,317. The business has a 50 day moving average price of $24.90 and a 200 day moving average price of $21.10. Warby Parker Inc. has a one year low of $13.63 and a one year high of $29.73.

Institutional Investors Weigh In On Warby Parker

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Warby Parker by 987.8% during the second quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company's stock worth $113,654,000 after purchasing an additional 4,706,148 shares during the period. Nuveen LLC acquired a new stake in shares of Warby Parker during the first quarter worth about $30,549,000. Artisan Partners Limited Partnership acquired a new stake in shares of Warby Parker during the second quarter worth about $27,589,000. Durable Capital Partners LP lifted its holdings in shares of Warby Parker by 13.2% during the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company's stock worth $186,172,000 after purchasing an additional 1,194,558 shares during the period. Finally, 12 West Capital Management LP acquired a new stake in shares of Warby Parker during the first quarter worth about $21,420,000. Hedge funds and other institutional investors own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Roth Capital set a $24.00 target price on Warby Parker and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and issued a $22.00 target price (up previously from $17.00) on shares of Warby Parker in a research note on Wednesday, May 21st. TD Securities lifted their target price on Warby Parker from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. UBS Group reiterated a "neutral" rating and issued a $23.00 target price (up previously from $20.00) on shares of Warby Parker in a research note on Friday, August 8th. Finally, Evercore ISI reiterated a "positive" rating on shares of Warby Parker in a research note on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $24.06.

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.

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