Warby Parker Inc. (NYSE:WRBY – Get Free Report)’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.
View Our Latest Stock Analysis on Warby Parker
Warby Parker Price Performance
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.
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