Warby Parker (NYSE:WRBY) Stock: Insider Neil Harris Blumenthal Sells 73,133 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Blumenthal sold 73,133 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $30.13, for a total value of $2,203,497.29. Following the completion of the sale, the chief executive officer owned 36,020 shares of the company’s stock, valued at $1,085,282.60. The trade was a 67.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 Thursday, October 1st, Neil Blumenthal sold 100,000 shares of Warby Parker stock. The shares were sold at an average price of $27.69, for a total value of $2,769,000.00.

Warby Parker Stock Up 2.8%

NYSE:WRBY opened at $27.47 on Friday. The business’s 50-day simple moving average is $25.39 and its two-hundred day simple moving average is $25.17. Warby Parker Inc. has a 52 week low of $16.26 and a 52 week high of $31.75. The stock has a market cap of $2.99 billion, a PE ratio of 457.89, a P/E/G ratio of 8.75 and a beta of 1.95.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Warby Parker had a return on equity of 3.36% and a net margin of 0.80%. The business had revenue of $244.74 million during the quarter, compared to the consensus estimate of $244.92 million. During the same period last year, the company earned $0.05 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Sell-side analysts anticipate that Warby Parker Inc. will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Warby Parker

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Warby Parker by 30.9% during the 1st quarter. Bank of America Corp DE now owns 1,377,646 shares of the company’s stock valued at $29,027,000 after acquiring an additional 325,250 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Warby Parker by 52.1% in the third quarter. Kornitzer Capital Management Inc. KS now owns 263,415 shares of the company’s stock valued at $7,318,000 after purchasing an additional 90,185 shares in the last quarter. Ranger Investment Management L.P. purchased a new position in shares of Warby Parker in the second quarter valued at $30,949,000. Dimensional Fund Advisors LP increased its position in Warby Parker by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,722,577 shares of the company’s stock worth $36,291,000 after purchasing an additional 166,235 shares during the last quarter. Finally, Granahan Investment Management LLC bought a new stake in Warby Parker in the first quarter worth $1,726,000. 93.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on WRBY shares. UBS Group upped their price target on Warby Parker from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th. Deutsche Bank set a $29.00 price objective on shares of Warby Parker in a research report on Thursday, September 17th. TD Cowen started coverage on shares of Warby Parker in a report on Friday, October 30th. They issued a “strong-buy” rating on the stock. Weiss Ratings downgraded shares of Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Finally, Citizens Jmp upped their target price on shares of Warby Parker from $29.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.42.

Top Warby Parker Stories

Here are a few of the latest stories about WRBY:

• Positive Sentiment: Warby Parker opened preorders for its first intelligent-eyewear collection, developed with Google and Samsung. The launch gives the company a potential way to expand beyond traditional eyewear and tap into demand for smart glasses. Warby Parker Opens Preorders for First Intelligent Eyewear Collection
• Neutral Sentiment: The new product faces execution and adoption risks: coverage highlighted consumer privacy concerns and questions about how the glasses differ from competitors such as Meta’s. Those factors could limit the growth opportunity if not addressed. Warby Parker bets on Google AI glasses for growth, but privacy fears still loom
• Negative Sentiment: CEO Neil Blumenthal sold 73,133 shares for about $2.20 million, reducing his holdings by 67%. The sale was made under a pre-arranged Rule 10b5-1 plan, which may temper—but does not eliminate—concerns investors may draw from the insider selling. Insider Selling: Warby Parker CEO Sells Stock

About Warby Parker

Warby Parker Inc. is an eyewear company that sells prescription glasses, sunglasses, and contact lenses through its website and retail stores. It also offers vision-related services, including eye exams at select locations. Founded in 2010, the company helped popularize a direct-to-consumer model for eyewear and has since expanded its network of stores. Warby Parker serves customers primarily in the United States and Canada. The company was co-founded by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider.