Warby Parker Inc. (NYSE:WRBY) CEO Sells $1,182,500.00 in Stock

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 50,000 shares of the business’s 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 completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $287,986.05. This trade represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Down 0.8 %

Shares of NYSE:WRBY opened at $23.63 on Friday. Warby Parker Inc. has a 52-week low of $11.35 and a 52-week high of $24.71. The stock has a market cap of $2.40 billion, a P/E ratio of -87.52 and a beta of 1.93. The business has a fifty day moving average of $19.96 and a two-hundred day moving average of $17.01.

Analyst Ratings Changes

WRBY has been the topic of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Friday, August 23rd. 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 lifted their price target on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Telsey Advisory Group increased 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. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. raised 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 purchasing an additional 1,315,672 shares during the period. Marshall Wace LLP increased its holdings 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 buying an additional 1,295,136 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Warby Parker by 44.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after buying an additional 481,900 shares during the period. Verition Fund Management LLC acquired a new position in Warby Parker in the third quarter valued at approximately $7,462,000. Finally, Zweig DiMenna Associates LLC purchased a new position in Warby Parker in the second quarter worth approximately $5,183,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.