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 that occurred on Wednesday, December 18th. The shares were sold at an average price of $25.09, for a total transaction of $1,406,394.86. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $305,520.93. This trade represents a 82.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value 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 value of $817,645.43.

Warby Parker Price Performance

Warby Parker stock opened at $25.18 on Friday. Warby Parker Inc. has a 1 year low of $11.35 and a 1 year high of $25.35. The firm’s 50 day moving average price is $20.61 and its 200-day moving average price is $17.20. The stock has a market cap of $2.56 billion, a P/E ratio of -93.26 and a beta of 1.93.

Analyst Ratings Changes

WRBY has been the subject of several research reports. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Robert W. Baird upped their price objective on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Telsey Advisory Group lifted their target price on Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, 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 report on Friday, November 8th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.73.

Institutional Trading of Warby Parker

Several hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP increased its holdings in 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 lifted its stake in Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after acquiring an additional 481,900 shares during the period. Verition Fund Management LLC purchased a new position in Warby Parker during the 3rd quarter valued at about $7,462,000. Dimensional Fund Advisors LP lifted its position in shares of Warby Parker by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after purchasing an additional 308,472 shares during the period. Finally, Loomis Sayles & Co. L P increased its holdings in 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 buying an additional 300,891 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.