Warby Parker Inc. (NYSE:WRBY) CEO Sells $1,380,500.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $27.61, for a total value of $1,380,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. This represents a 80.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 2nd, Neil Harris Blumenthal sold 300,000 shares of Warby Parker stock. The stock was sold at an average price of $25.14, for a total value of $7,542,000.00.
• On Friday, December 20th, Neil Harris Blumenthal sold 93,946 shares of Warby Parker stock. The shares were sold at an average price of $25.08, for a total value of $2,356,165.68.
• On Wednesday, December 18th, Neil Harris Blumenthal sold 56,054 shares of Warby Parker stock. The stock was sold at an average price of $25.09, for a total value of $1,406,394.86.
• On Monday, December 9th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00.
• On Tuesday, December 3rd, Neil Harris Blumenthal sold 36,163 shares of Warby Parker stock. The shares were sold at an average price of $22.61, for a total value of $817,645.43.

Warby Parker Stock Performance

NYSE WRBY traded down $0.33 during trading hours on Monday, hitting $27.39. The company had a trading volume of 1,502,361 shares, compared to its average volume of 1,682,774. Warby Parker Inc. has a 1-year low of $11.35 and a 1-year high of $28.68. The company has a market cap of $2.78 billion, a PE ratio of -101.43 and a beta of 1.90. The business has a 50 day moving average of $24.86 and a 200-day moving average of $19.29.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WRBY. Telsey Advisory Group lifted their price objective on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. JMP Securities upped their price objective on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. Robert W. Baird upped their target price on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, BTIG Research increased their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.67.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in Warby Parker in the 4th quarter worth approximately $25,000. KBC Group NV boosted its holdings in shares of Warby Parker by 39.3% in the 4th quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $115,000 after purchasing an additional 1,339 shares during the last quarter. Shaker Investments LLC OH acquired a new position in shares of Warby Parker during the 4th quarter valued at $279,000. AQR Capital Management LLC acquired a new position in Warby Parker in the 2nd quarter worth $186,000. Finally, Thrivent Financial for Lutherans acquired a new position in Warby Parker in the 3rd quarter worth $213,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.