Warby Parker Inc (NYSE:WRBY – Get Rating)’s stock price gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $33.96, but opened at $33.20. Warby Parker shares last traded at $34.64, with a volume of 54,561 shares changing hands. Specifically, major shareholder Durable Capital Partners Lp purchased 210,935 shares of the business’s stock in a transaction on Tuesday, January 4th. The shares were bought at an average cost of $43.94 per share, for a total transaction of $9,268,483.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 19,325 shares of the business’s stock in a transaction dated Monday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $579,943.25. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 2,657,399 shares of company stock worth $90,284,109 and sold 30,446 shares worth $857,968.
A number of analysts recently weighed in on WRBY shares. Zacks Investment Research lowered shares of Warby Parker from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley lowered their price target on Warby Parker from $57.00 to $24.00 in a report on Friday, March 18th. The Goldman Sachs Group lowered their price target on Warby Parker from $42.00 to $36.00 in a report on Friday, March 18th. Evercore ISI initiated coverage on Warby Parker in a report on Friday, March 18th. They issued a “hold” rating and a $39.00 price target for the company. Finally, Telsey Advisory Group lowered their price target on Warby Parker from $69.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Warby Parker has a consensus rating of “Hold” and an average target price of $42.67.
The firm has a fifty day simple moving average of $30.56.
Warby Parker (NYSE:WRBY – Get Rating) last released its quarterly earnings data on Thursday, March 17th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The business had revenue of $132.89 million during the quarter, compared to analysts’ expectations of $133.35 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, equities analysts anticipate that Warby Parker Inc will post 0.06 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. AlpInvest Partners B.V. purchased a new stake in Warby Parker during the 3rd quarter worth about $4,072,000. Baillie Gifford & Co. purchased a new stake in Warby Parker during the 3rd quarter worth about $264,771,000. Utah Retirement Systems purchased a new stake in Warby Parker during the 3rd quarter worth about $3,036,000. Neuberger Berman Group LLC purchased a new stake in Warby Parker during the 3rd quarter worth about $2,688,000. Finally, OLD Mission Capital LLC purchased a new stake in Warby Parker during the 3rd quarter worth about $987,000. Institutional investors and hedge funds own 80.44% of the company’s stock.
Warby Parker Company Profile (NYSE:WRBY)
Warby Parker Inc is a direct-to-consumer eyewear brand. Warby Parker Inc is based in NEW YORK.
