Warby Parker (NYSE:WRBY) CEO Sells $13,760.00 in Stock

Key Points

• Neil Harris Blumenthal, CEO of Warby Parker, sold 500 shares of stock for a total of $13,760, decreasing his ownership to 32,733 shares valued at approximately $900,812.
• Warby Parker's stock price recently rose to $28.48, increasing 0.5% during trading, with a market cap of $3 billion and a price-to-earnings ratio of -406.80.
• Analysts have set new price targets for Warby Parker, with UBS Group raising its objective to $23, while Robert W. Baird set a higher target of $30.

Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $27.52, for a total value of $13,760.00. Following the completion of the transaction, the chief executive officer owned 32,733 shares in the company, valued at approximately $900,812.16. This trade represents a 1.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, September 18th, Neil Harris Blumenthal sold 8,416 shares of Warby Parker stock. The shares were sold at an average price of $27.52, for a total value of $231,608.32.
• On Thursday, September 11th, Neil Harris Blumenthal sold 41,084 shares of Warby Parker stock. The shares were sold at an average price of $27.53, for a total value of $1,131,042.52.
• 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 stock was sold at an average price of $24.01, for a total value of $9,604.00.

Warby Parker Price Performance

Warby Parker stock traded up $0.14 during trading on Friday, reaching $28.48. 2,116,469 shares of the company were exchanged, compared to its average volume of 1,365,600. Warby Parker Inc. has a 52-week low of $13.63 and a 52-week high of $29.73. The company has a market capitalization of $3.00 billion, a P/E ratio of -406.80 and a beta of 2.10. The stock's 50 day simple moving average is $25.43 and its two-hundred day simple moving average is $21.24.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in Warby Parker in the 1st quarter valued at $27,000. PNC Financial Services Group Inc. increased its holdings in Warby Parker by 400.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company's stock valued at $35,000 after purchasing an additional 1,281 shares in the last quarter. Huntington National Bank increased its holdings in Warby Parker by 111.0% in the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company's stock valued at $37,000 after purchasing an additional 881 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Warby Parker in the 1st quarter valued at $58,000. Finally, Anderson Financial Strategies LLC increased its holdings in Warby Parker by 39.0% in the 1st quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company's stock valued at $72,000 after purchasing an additional 1,109 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WRBY. Cowen reaffirmed a "buy" rating on shares of Warby Parker in a research note on Friday, August 8th. JMP Securities reissued a "market perform" rating on shares of Warby Parker in a report on Thursday, July 10th. BTIG Research restated a "buy" rating and issued a $28.00 price target (up previously from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Stifel Nicolaus boosted their target price on Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Finally, Roth Capital set a $24.00 target price on Warby Parker and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Eleven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.06.

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.