Warby Parker (NYSE:WRBY) Trading Down 5.2%

Warby Parker Inc. (NYSE:WRBY)’s stock price was down 5.2% during mid-day trading on Tuesday . The stock traded as low as $13.51 and last traded at $13.54. Approximately 868,159 shares were traded during trading, a decline of 34% from the average daily volume of 1,319,968 shares. The stock had previously closed at $14.28.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WRBY shares. UBS Group lifted their price objective on Warby Parker from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Loop Capital lifted their price objective on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 price objective on shares of Warby Parker in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price objective on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Morgan Stanley lifted their price objective on Warby Parker from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Warby Parker has an average rating of “Hold” and a consensus price target of $16.57.

Warby Parker Price Performance

The company has a 50 day simple moving average of $15.59 and a 200-day simple moving average of $14.48. The stock has a market cap of $1.35 billion, a P/E ratio of -28.64 and a beta of 1.82.

Insiders Place Their Bets

In related news, Director Bradley E. Singer acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at $1,300,000. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, Director Bradley E. Singer acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at $1,300,000. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 15,709 shares of Warby Parker stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $17.04, for a total value of $267,681.36. Following the completion of the transaction, the chief financial officer now owns 166,879 shares in the company, valued at approximately $2,843,618.16. The disclosure for this sale can be found here. Insiders sold a total of 5,848,537 shares of company stock valued at $91,938,722 over the last 90 days. Insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WRBY. Vaughan Nelson Investment Management L.P. increased its holdings in Warby Parker by 113.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock valued at $39,787,000 after purchasing an additional 1,315,672 shares during the period. Marshall Wace LLP boosted its position in Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after acquiring an additional 1,295,136 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock valued at $22,970,000 after acquiring an additional 1,011,030 shares in the last quarter. Jennison Associates LLC bought a new stake in Warby Parker during the 4th quarter valued at approximately $12,034,000. Finally, Vanguard Group Inc. boosted its position in Warby Parker by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after acquiring an additional 607,352 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.