Warby Parker (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 75,213 Shares

Key Points

• Neil Harris Blumenthal sold 75,213 shares on April 17 at an average price of $24.56 (about $1.847M) under a pre‑arranged Rule 10b5‑1 plan, reducing his stake by roughly 60% to 50,165 shares.
• He also sold 22,442 shares on April 20 at $25.09 and 2,345 shares on April 16 at $24.08, showing continued insider selling that week.
• Shares rose about 3.9% to $25.83 on heavy volume; Warby Parker has a market cap of roughly $2.76B, ~93% institutional ownership, and an analyst consensus of "Moderate Buy" with an average target of $28.09.

Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 75,213 shares of the company's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $24.56, for a total value of $1,847,231.28. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company's stock, valued at approximately $1,232,052.40. This trade represents a 59.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 Thursday, April 16th, Neil Harris Blumenthal sold 2,345 shares of Warby Parker stock. The shares were sold at an average price of $24.08, for a total value of $56,467.60.

Warby Parker Stock Up 3.9%

Shares of NYSE WRBY traded up $0.97 during mid-day trading on Monday, hitting $25.83. 3,492,314 shares of the company traded hands, compared to its average volume of 2,084,250. Warby Parker Inc. has a 1 year low of $13.63 and a 1 year high of $31.00. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 1,292.10 and a beta of 2.07. The business has a 50 day moving average of $23.15 and a two-hundred day moving average of $23.10.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Warby Parker during the first quarter valued at $2,713,000. Vaughan Nelson Investment Management L.P. raised its position in Warby Parker by 31.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company's stock valued at $63,806,000 after buying an additional 722,627 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Warby Parker in the 4th quarter worth about $768,000. Virtu Financial LLC purchased a new stake in shares of Warby Parker during the 4th quarter worth about $785,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Warby Parker during the 4th quarter worth about $46,484,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. UBS Group reaffirmed a "neutral" rating and set a $20.00 target price on shares of Warby Parker in a report on Wednesday, February 25th. Weiss Ratings downgraded Warby Parker from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, March 2nd. Telsey Advisory Group reaffirmed an "outperform" rating and set a $32.00 target price on shares of Warby Parker in a report on Friday, February 20th. Finally, Citigroup upped their price target on Warby Parker from $18.00 to $24.00 and gave the company a "neutral" rating in a research report on Tuesday, March 17th. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Warby Parker currently has an average rating of "Moderate Buy" and an average target price of $28.09.

Warby Parker Company Profile

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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