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 business’s stock in a transaction on 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 sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $305,520.93. The trade was a 82.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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 stock was sold at an average price of $23.65, for a total value 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 transaction of $817,645.43.

Warby Parker Stock Performance

NYSE WRBY traded up $0.92 during trading hours on Friday, hitting $25.18. 3,637,201 shares of the company’s stock were exchanged, compared to its average volume of 1,447,908. The firm has a market capitalization of $2.56 billion, a P/E ratio of -93.26 and a beta of 1.93. The business’s 50 day moving average is $20.61 and its 200-day moving average is $17.20. Warby Parker Inc. has a 12-month low of $11.35 and a 12-month high of $25.35.

Institutional Investors Weigh In On Warby Parker

Several hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its position in Warby Parker by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock worth $782,000 after purchasing an additional 1,556 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Warby Parker by 11.5% during the 2nd quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock valued at $413,000 after buying an additional 2,651 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Warby Parker by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock worth $717,000 after buying an additional 3,007 shares during the last quarter. Arizona State Retirement System raised its position in shares of Warby Parker by 16.0% in the 2nd quarter. Arizona State Retirement System now owns 23,408 shares of the company’s stock worth $376,000 after buying an additional 3,224 shares during the period. Finally, LVW Advisors LLC boosted its holdings in Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after acquiring an additional 3,500 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WRBY shares. JMP Securities upped 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. Stifel Nicolaus lifted their price objective on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Piper Sandler increased their target price on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group boosted their price target on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, William Blair upgraded 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.73.

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.