Warby Parker’s (NYSE:WRBY – Get Rating) lock-up period will end on Monday, March 28th. Warby Parker had issued 77,741,942 shares in its public offering on September 29th. The total size of the offering was $3,109,677,680 based on an initial share price of $40.00. After the end of Warby Parker’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
A number of analysts recently weighed in on WRBY shares. Citigroup dropped their target price on Warby Parker from $54.00 to $41.00 and set a “buy” rating for the company in a research report on Friday. Zacks Investment Research downgraded shares of Warby Parker from a “buy” rating to a “hold” rating in a research note on Thursday, January 20th. Telsey Advisory Group lowered their price target on shares of Warby Parker from $69.00 to $60.00 and set an “outperform” rating for the company in a research note on Friday. The Goldman Sachs Group lowered their price target on shares of Warby Parker from $42.00 to $36.00 in a research note on Friday. Finally, Evercore ISI assumed coverage on shares of Warby Parker in a research note on Friday. They issued a “hold” rating and a $39.00 price target for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Warby Parker presently has a consensus rating of “Buy” and an average price target of $42.67.
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Shares of NYSE:WRBY opened at $31.05 on Monday. The company’s 50-day moving average price is $30.87. Warby Parker has a 12 month low of $22.59 and a 12 month high of $60.30.
Warby Parker (NYSE:WRBY – Get Rating) last announced its earnings results on Thursday, March 17th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $132.89 million for the quarter, compared to the consensus estimate of $133.35 million. Warby Parker’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, sell-side analysts predict that Warby Parker will post 0.06 EPS for the current year.
In other Warby Parker news, CFO Steven Clive Miller sold 5,767 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $25.00, for a total transaction of $144,175.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Abraham Gilboa sold 5,354 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $25.00, for a total transaction of $133,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,657,399 shares of company stock valued at $90,284,109.
Several hedge funds have recently added to or reduced their stakes in WRBY. AlpInvest Partners B.V. purchased a new stake in shares of Warby Parker in the 3rd quarter worth approximately $4,072,000. Baillie Gifford & Co. bought a new position in Warby Parker during the 3rd quarter valued at approximately $264,771,000. Utah Retirement Systems bought a new position in Warby Parker during the 3rd quarter valued at approximately $3,036,000. Neuberger Berman Group LLC bought a new stake in Warby Parker during the 3rd quarter valued at about $2,688,000. Finally, OLD Mission Capital LLC bought a new stake in Warby Parker during the 3rd quarter valued at about $987,000. Hedge funds and other institutional investors own 80.44% of the company’s stock.
Warby Parker Company Profile (Get Rating)
Warby Parker Inc is a direct-to-consumer eyewear brand. Warby Parker Inc is based in NEW YORK.
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