Insider Selling: Warby Parker Inc. (NYSE:WRBY) CEO Sells $1,380,500.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. This trade represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, January 2nd, Neil Harris Blumenthal sold 300,000 shares of Warby Parker stock. The stock was sold at an average price of $25.14, for a total value of $7,542,000.00.
• 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 stock was 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 shares were sold at an average price of $22.61, for a total value of $817,645.43.

Warby Parker Price Performance

Shares of WRBY stock opened at $26.88 on Thursday. The business has a fifty day moving average of $25.06 and a 200 day moving average of $19.50. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -99.54 and a beta of 1.90. Warby Parker Inc. has a 1 year low of $11.35 and a 1 year high of $28.68.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WRBY. Global Retirement Partners LLC purchased a new position in shares of Warby Parker in the 4th quarter valued at about $25,000. KBC Group NV grew its holdings in Warby Parker by 39.3% in the fourth quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $115,000 after purchasing an additional 1,339 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Warby Parker in the second quarter valued at approximately $186,000. Thrivent Financial for Lutherans acquired a new position in shares of Warby Parker during the 3rd quarter worth approximately $213,000. Finally, LVW Advisors LLC lifted its position in shares of Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after buying an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on WRBY. Citigroup reaffirmed a “sell” rating and set a $23.00 target price (up from $19.00) on shares of Warby Parker in a research report on Wednesday. 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. Morgan Stanley raised their target price on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Finally, BTIG Research boosted their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.77.

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.