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David Abraham Gilboa, the Co-Chief Executive Officer of Warby Parker Inc. (NYSE:WRBY), recently reported significant stock transactions, according to an SEC filing. On March 4, Gilboa sold a notable portion of his holdings in the eyewear company, netting $4.7 million. The sales included shares sold at prices ranging from $23.47 to $23.95 per share. The timing is notable as the stock has delivered an impressive 92% return over the past year, according to InvestingPro data, though current analysis suggests the stock may be trading above its Fair Value.
The transactions were part of a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. This move provides a degree of separation between the executive’s trading activities and potential accusations of insider trading. With Warby Parker’s market capitalization now at $2.81 billion and demonstrating strong revenue growth of 15.2%, InvestingPro analysis reveals several more key insights about the company’s financial health and valuation metrics.
In addition to sales, there were other notable movements in Gilboa’s stock portfolio. On March 3, a portion of the shares was withheld by Warby Parker to cover tax obligations related to restricted stock units, amounting to $310,777. The transactions also included acquisitions of Class A Common Stock through a grant of fully-vested restricted stock units and other stock conversions, although these did not involve any cash exchange.
As of the last filing, Gilboa’s direct ownership stands at 40,072 shares, reflecting the recent adjustments in his holdings.
In other recent news, Warby Parker Inc. reported a 17.8% year-over-year increase in fourth-quarter 2024 revenue, reaching $190.6 million, exceeding analyst expectations. Despite missing earnings per share (EPS) forecasts with an actual EPS of -$0.06 against a forecast of $0.03, the company’s strong revenue performance has been a focal point for investors. Warby Parker’s future outlook for 2025 is optimistic, with projected revenues between $878 million and $893 million, reflecting a 14% to 16% growth. Analysts from Stifel, UBS, JMP Securities, and Evercore ISI have all raised their price targets for the company, citing positive growth trajectories and strategic partnerships. Warby Parker’s collaboration with Target (NYSE:TGT) to open shop-in-shops is expected to further boost its customer base and revenue. Additionally, the company’s active customer base has grown by 7.8% year-over-year, driven by strategic marketing and partnerships. Analysts have highlighted the company’s potential to expand profit margins and capture more market share despite macroeconomic challenges.
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