Insider Selling: Warby Parker Inc. (NYSE:WRBY) CEO Sells 300,000 Shares of Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 300,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $306,129.78. This trade represents a 96.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction 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 value of $817,645.43.

Warby Parker Price Performance

Shares of NYSE WRBY traded down $0.09 during mid-day trading on Monday, hitting $26.37. The company’s stock had a trading volume of 2,497,993 shares, compared to its average volume of 2,298,164. Warby Parker Inc. has a one year low of $11.35 and a one year high of $27.10. The company’s fifty day simple moving average is $22.46 and its 200-day simple moving average is $17.87. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -97.67 and a beta of 1.88.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group upped their price objective on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. JMP Securities boosted their target price on Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. BTIG Research increased their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Robert W. Baird boosted their price objective on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.73.

Hedge Funds Weigh In On Warby Parker

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

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.