Warby Parker Inc. (NYSE:WRBY – Get Free Report) was the target of unusually large options trading activity on Friday. Investors bought 21,529 call options on the stock. This is an increase of approximately 329% compared to the typical daily volume of 5,022 call options.
Insider Buying and Selling at Warby Parker
In other Warby Parker news, CEO Neil Blumenthal sold 217,667 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.61, for a total transaction of $6,445,119.87. Following the sale, the chief executive officer directly owned 31,112 shares of the company’s stock, valued at $921,226.32. This represents a 87.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Youngme E. Moon sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $26.53, for a total transaction of $265,300.00. Following the sale, the director owned 26,061 shares in the company, valued at $691,398.33. The trade was a 27.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 278,167 shares of company stock worth $8,206,480 over the last three months. 16.80% of the stock is currently owned by insiders.
Institutional Trading of Warby Parker
Hedge funds have recently bought and sold shares of the company. TimesSquare Capital Management LLC grew its holdings in Warby Parker by 34.2% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,353,554 shares of the company’s stock worth $29,494,000 after acquiring an additional 344,879 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in Warby Parker in the fourth quarter worth about $935,000. King Luther Capital Management Corp lifted its holdings in shares of Warby Parker by 48.4% in the 4th quarter. King Luther Capital Management Corp now owns 423,258 shares of the company’s stock worth $9,223,000 after purchasing an additional 137,995 shares during the last quarter. Atreides Management LP bought a new stake in Warby Parker in the fourth quarter valued at $8,565,000. Finally, SG Americas Securities LLC acquired a new position in Warby Parker during the 1st quarter valued at about $2,713,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.
Warby Parker Trading Up 3.7%
Warby Parker (NYSE:WRBY – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The company had revenue of $235.51 million for the quarter, compared to analysts’ expectations of $237.98 million. Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) EPS. Analysts predict that Warby Parker will post 0.14 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on WRBY shares. Piper Sandler restated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Citigroup restated a “market outperform” rating on shares of Warby Parker in a report on Friday, May 22nd. Roth Capital reiterated a “neutral” rating and set a $28.00 price target on shares of Warby Parker in a report on Wednesday, August 5th. BTIG Research reissued a “buy” rating on shares of Warby Parker in a report on Friday, August 14th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.18.
Check Out Our Latest Stock Analysis on Warby Parker
Warby Parker Company Profile
Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.
Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.
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