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Warby Parker's co-CEO David Gilboa sells $8.45 million in stock

Published 13/12/2024, 10:30 am
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David Gilboa, Co-CEO of Warby Parker Inc. (NYSE:WRBY), recently executed significant stock transactions, according to a filing with the Securities and Exchange Commission. The company's stock has shown remarkable performance, delivering a 113% return over the past year and currently trading near its 52-week high of $24.60. On December 10 and 11, Gilboa sold a total of 358,947 shares of Warby Parker's Class A common stock. The sales were conducted at average prices ranging from $23.50 to $23.84 per share, amounting to approximately $8.45 million. According to InvestingPro analysis, the company, currently valued at $2.83 billion, appears to be trading above its Fair Value.

The transactions were part of a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a trading plan for selling stocks they own. Following these transactions, Gilboa holds 12,306 shares of Warby Parker's Class A common stock directly. Get deeper insights into insider trading patterns and 13 additional ProTips with InvestingPro.

In other recent news, Warby Parker has reported impressive growth in its Q3 2024 earnings call. The eyewear company saw a significant year-over-year increase in net revenue, reaching $192.4 million, marking a 13.3% growth compared to the previous year. This robust performance led the company to raise its full-year revenue growth guidance to 14-15% and set a target of approximately $73 million in adjusted EBITDA.

The company's strategic expansion in physical stores and enhancements in its e-commerce platform were key contributors to this growth, along with the successful integration of in-network insurance partnerships. Warby Parker's active customer base increased to 2.4 million, up 5.6% year-over-year, and average revenue per customer rose by 7.5%.

E-commerce revenue grew by 1% year-over-year, with a 35% surge in single vision glasses and contact lens sales. Moreover, eye exam revenue increased by 40%, highlighting the company's focus on holistic vision care services. These are among the recent developments that illustrate Warby Parker's commitment to strategic growth and customer service enhancements.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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