Warby Parker Inc. (NYSE:WRBY) CEO Sells $7,542,000.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 300,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total value of $7,542,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $306,129.78. This represents a 96.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, December 20th, Neil Harris Blumenthal sold 93,946 shares of Warby Parker stock. The stock was 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 shares were 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 transaction 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 transaction of $817,645.43.

Warby Parker Stock Performance

WRBY opened at $26.61 on Thursday. The company’s 50-day simple moving average is $23.02 and its two-hundred day simple moving average is $18.08. The stock has a market capitalization of $2.71 billion, a P/E ratio of -98.56 and a beta of 1.88. Warby Parker Inc. has a 52-week low of $11.35 and a 52-week high of $27.10.

Analysts Set New Price Targets

A number of brokerages have weighed in on WRBY. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Robert W. Baird boosted their target price on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JMP Securities raised their price target on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Finally, Telsey Advisory Group upped their price target on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP raised its stake in Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after buying an additional 1,295,136 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after acquiring an additional 481,900 shares during the period. Verition Fund Management LLC purchased a new stake in Warby Parker during the third quarter valued at $7,462,000. Dimensional Fund Advisors LP lifted its holdings in Warby Parker by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock valued at $21,994,000 after acquiring an additional 308,472 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in Warby Parker by 20.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock worth $29,111,000 after purchasing an additional 300,891 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.