By otakuyassine3@gmail.com 
Warby Parker Inc. (NYSE:WRBY – Get Free Report)’s share price traded down 3.1% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $24.90 and last traded at $24.92. 577,223 shares traded hands during trading, a decline of 60% from the average session volume of 1,444,560 shares. The stock had previously closed at $25.72.
Specifically, CEO Neil Harris Blumenthal sold 93,946 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $25.08, for a total transaction of $2,356,165.68. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at $305,399.16. This represents a 88.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 56,054 shares of Warby Parker stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $25.09, for a total value of $1,406,394.86. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $305,520.93. This trade represents a 82.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Analyst Ratings Changes
Several brokerages have commented on WRBY. The Goldman Sachs Group raised their target price on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price target 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. Finally, Robert W. Baird upped their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.73.
Check Out Our Latest Research Report on WRBY
Warby Parker Trading Down 2.4 %
The stock has a market capitalization of $2.48 billion, a PE ratio of -90.44 and a beta of 1.93. The business has a fifty day moving average price of $21.72 and a 200-day moving average price of $17.53.
Institutional Trading of Warby Parker
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in Warby Parker by 14.8% in the second quarter. Bank of New York Mellon Corp now owns 807,272 shares of the company’s stock worth $12,965,000 after purchasing an additional 104,360 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in Warby Parker by 8.6% during the 2nd 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. purchased a new stake in Warby Parker during the 2nd quarter valued at about $675,000. Natixis Advisors LLC grew its position in 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 acquiring an additional 164,879 shares during the last quarter. Finally, Versor Investments LP increased its stake in 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 period. Hedge funds and other institutional investors 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.
Further Reading
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