Insider Selling: Warby Parker Inc. (NYSE:WRBY) CEO Sells 50,000 Shares of Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $287,986.05. The trade was a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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 transaction of $817,645.43.

Warby Parker Stock Performance

Shares of NYSE WRBY remained flat at $23.53 during trading on Wednesday. The stock had a trading volume of 1,477,782 shares, compared to its average volume of 1,435,118. The stock has a market cap of $2.39 billion, a PE ratio of -88.26 and a beta of 1.93. Warby Parker Inc. has a 52-week low of $10.80 and a 52-week high of $24.60. The business’s 50-day moving average is $19.47 and its 200-day moving average is $16.87.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WRBY. Piper Sandler raised their price objective on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group boosted their target price on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday. Telsey Advisory Group raised their price target on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Friday, August 23rd. Finally, Robert W. Baird lifted their target price on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its position in Warby Parker by 610.3% during the second quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock valued at $1,471,000 after purchasing an additional 78,702 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Warby Parker by 113.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after buying an additional 1,315,672 shares during the period. Blueshift Asset Management LLC bought a new position in Warby Parker during the third quarter valued at $1,223,000. Maverick Capital Ltd. purchased a new stake in Warby Parker in the 2nd quarter worth about $1,465,000. Finally, Driehaus Capital Management LLC raised its holdings in shares of Warby Parker by 43.9% in the second quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock worth $12,952,000 after buying an additional 246,011 shares during the period. 93.24% of the stock is currently owned by hedge funds and other 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.