Neil Harris Blumenthal Sells 93,946 Shares of Warby Parker Inc. (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 93,946 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $25.08, for a total transaction of $2,356,165.68. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $305,399.16. This trade represents a 88.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 transaction of $1,182,500.00.
• On Tuesday, December 3rd, Neil Harris Blumenthal sold 36,163 shares of Warby Parker stock. The stock was sold at an average price of $22.61, for a total transaction of $817,645.43.

Warby Parker Stock Down 2.4 %

Shares of Warby Parker stock opened at $24.42 on Friday. Warby Parker Inc. has a 52 week low of $11.35 and a 52 week high of $25.89. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -90.44 and a beta of 1.93. The stock’s 50-day simple moving average is $21.72 and its 200-day simple moving average is $17.53.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WRBY shares. JMP Securities increased 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. BTIG Research increased their target price on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Piper Sandler raised their price objective on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group upped their target price on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and an average price target of $20.73.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WRBY. First Eagle Investment Management LLC bought a new position in shares of Warby Parker during the 2nd quarter valued at approximately $131,000. Choreo LLC bought a new stake in shares of Warby Parker in the 2nd quarter worth about $167,000. AQR Capital Management LLC purchased a new position in shares of Warby Parker during the 2nd quarter worth about $186,000. Thrivent Financial for Lutherans bought a new position in Warby Parker during the 3rd quarter valued at about $213,000. Finally, LVW Advisors LLC raised its position in Warby Parker by 27.9% in the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after purchasing an additional 3,500 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.