Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal Sells 93,946 Shares

Warby Parker Inc. (NYSE:WRBY) CEO Neil Harris Blumenthal sold 93,946 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $25.08, for a total value of $2,356,165.68. Following the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $305,399.16. This represents a 88.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, December 18th, Neil Harris Blumenthal sold 56,054 shares of Warby Parker stock. The shares were 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 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 Price Performance

Warby Parker stock opened at $25.03 on Friday. The firm’s fifty day moving average price is $21.56 and its 200 day moving average price is $17.48. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -92.70 and a beta of 1.93. Warby Parker Inc. has a 12-month low of $11.35 and a 12-month high of $25.89.

Hedge Funds Weigh In On Warby Parker

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Warby Parker by 14.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 807,272 shares of the company’s stock worth $12,965,000 after buying an additional 104,360 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Warby Parker by 8.6% in the second quarter. Panagora Asset Management Inc. now owns 214,560 shares of the company’s stock valued at $3,446,000 after acquiring an additional 16,939 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in Warby Parker in the second quarter valued at approximately $675,000. Natixis Advisors LLC raised its position in shares of Warby Parker by 58.8% during the 2nd quarter. Natixis Advisors LLC now owns 445,292 shares of the company’s stock worth $7,151,000 after purchasing an additional 164,879 shares during the period. Finally, Versor Investments LP lifted its holdings in shares of Warby Parker by 137.2% in the 2nd quarter. Versor Investments LP now owns 26,800 shares of the company’s stock worth $430,000 after purchasing an additional 15,500 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on WRBY shares. Telsey Advisory Group boosted their price objective on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Stifel Nicolaus boosted their price target on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Piper Sandler raised their price objective on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a 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 report on Tuesday, December 10th. Finally, William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and an average target price 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.