Warby Parker (NYSE:WRBY) CEO Sells $1,893,091.20 in Stock

Key Points

• CEO Neil Blumenthal sold 63,040 shares of Warby Parker on May 19 for about $1.89 million at an average price of $30.03, cutting his direct stake by 55.69%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Warby Parker’s latest quarterly results showed EPS of $0.03, missing analyst expectations of $0.11, though revenue of $242.45 million topped estimates and rose 8.4% year over year. Analysts still expect the company to earn $0.24 per share for the full year.
• Wall Street sentiment remains constructive, with several firms raising price targets and the stock carrying an average Moderate Buy rating and $29.50 price target. Institutional ownership is also high, with hedge funds and other investors holding 93.24% of shares.

Warby Parker Inc. (NYSE:WRBY - Get Free Report) CEO Neil Harris Blumenthal sold 63,040 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $30.03, for a total transaction of $1,893,091.20. Following the completion of the transaction, the chief executive officer directly owned 50,165 shares in the company, valued at $1,506,454.95. The trade was a 55.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 stock was sold at an average price of $25.09, for a total transaction 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 transaction of $1,847,231.28.
• On Thursday, April 16th, Neil Harris Blumenthal sold 2,345 shares of Warby Parker stock. The stock was sold at an average price of $24.08, for a total transaction of $56,467.60.

Warby Parker Trading Up 0.3%

Shares of NYSE:WRBY traded up $0.07 during trading on Thursday, reaching $24.52. The company had a trading volume of 2,043,236 shares, compared to its average volume of 3,183,516. The company has a fifty day moving average of $23.69 and a two-hundred day moving average of $23.50. The stock has a market capitalization of $2.63 billion, a P/E ratio of 1,226.76 and a beta of 1.95. Warby Parker Inc. has a 12 month low of $14.96 and a 12 month high of $31.00.

Warby Parker (NYSE:WRBY - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. During the same period in the previous year, the company earned $0.03 EPS. Warby Parker's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that Warby Parker Inc. will post 0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WRBY. Telsey Advisory Group upped their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Piper Sandler reaffirmed an "overweight" rating on shares of Warby Parker in a research note on Tuesday. UBS Group upped their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Weiss Ratings raised shares of Warby Parker from a "sell (d)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Finally, BTIG Research upped their price objective on shares of Warby Parker from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $29.50.

Institutional Investors Weigh In On Warby Parker

Several institutional investors have recently added to or reduced their stakes in WRBY. AQR Capital Management LLC boosted its position in 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 buying an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 buying an additional 2,297 shares during the period. Goldman Sachs Group Inc. boosted its position in 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 buying an additional 929,073 shares during the period. Caxton Associates LLP purchased a new stake in Warby Parker during the 1st quarter valued at $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 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 buying an additional 38,395 shares during the period. Hedge funds and other institutional investors own 93.24% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.