Neil Harris Blumenthal Sells 56,054 Shares of Warby Parker Inc. (NYSE:WRBY) Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 56,054 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $25.09, for a total value of $1,406,394.86. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $305,520.93. This trade represents a 82.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, December 9th, Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock. The shares were 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 transaction of $817,645.43.

Warby Parker Stock Performance

NYSE WRBY opened at $25.18 on Friday. Warby Parker Inc. has a one year low of $11.35 and a one year high of $25.35. The company has a 50-day simple moving average of $20.80 and a 200-day simple moving average of $17.25. The firm has a market capitalization of $2.56 billion, a PE ratio of -93.26 and a beta of 1.93.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently bought and sold shares of WRBY. Marshall Wace LLP raised its position in shares of Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after purchasing an additional 1,295,136 shares during the period. Renaissance Technologies LLC grew its stake in Warby Parker by 44.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after buying an additional 481,900 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Warby Parker in the third quarter worth $7,462,000. Dimensional Fund Advisors LP lifted its stake in Warby Parker by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock valued at $21,994,000 after buying an additional 308,472 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Warby Parker by 20.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after acquiring an additional 300,891 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities lifted their price target on shares of Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and lifted their target price for the company from $15.00 to $18.00 in a report on Monday, October 21st. Piper Sandler upped their price target on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Telsey Advisory Group lifted their price objective on Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.73.

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.