Warby Parker (NYSE:WRBY) Director Sells $265,300.00 in Stock

Warby Parker Inc. (NYSE:WRBY) Director Youngme Moon sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.53, for a total value of $265,300.00. Following the sale, the director owned 26,061 shares in the company, valued at approximately $691,398.33. The trade was a 27.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Warby Parker Price Performance

Shares of WRBY opened at $26.32 on Monday. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 1,316.86 and a beta of 1.96. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The business’s 50-day moving average is $24.31 and its 200-day moving average is $24.34.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $242.45 million during the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. Warby Parker’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Equities research analysts expect that Warby Parker Inc. will post 0.19 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 WRBY. Impax Asset Management Group plc boosted its position in Warby Parker by 28.3% during the third quarter. Impax Asset Management Group plc now owns 385,000 shares of the company’s stock worth $10,618,000 after purchasing an additional 85,000 shares during the period. JPMorgan Chase & Co. boosted its position in Warby Parker by 40.9% during the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after purchasing an additional 2,120,768 shares during the period. Udine Wealth Management Inc. bought a new stake in Warby Parker during the fourth quarter worth approximately $1,284,000. Kingdon Capital Management L.L.C. bought a new stake in Warby Parker during the third quarter worth approximately $9,653,000. Finally, Vanguard Group Inc. boosted its position in Warby Parker by 3.2% during the third quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after purchasing an additional 327,830 shares during the period. Institutional investors own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

WRBY has been the topic of a number of research reports. Telsey Advisory Group upped their target price on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group boosted their price target on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.