Warby Parker (NYSE:WRBY) Sets New 1-Year High – Here’s What Happened

Warby Parker Inc. (NYSE:WRBY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $18.42 and last traded at $18.38, with a volume of 2027154 shares trading hands. The stock had previously closed at $17.57.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WRBY shares. Stifel Nicolaus lifted their target price on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research note on Thursday. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday. Loop Capital lifted their target price on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Finally, BTIG Research lifted their target price on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Warby Parker has an average rating of “Moderate Buy” and an average price target of $17.30.

Warby Parker Stock Performance

The firm has a market capitalization of $1.94 billion, a P/E ratio of -49.51 and a beta of 1.80. The company has a 50-day moving average price of $15.74 and a 200-day moving average price of $15.48.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. Equities analysts predict that Warby Parker Inc. will post -0.04 EPS for the current year.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,178 shares of company stock worth $1,339,901. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in shares of Warby Parker by 610.3% in the second quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock valued at $1,471,000 after purchasing an additional 78,702 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Warby Parker by 302.0% in the first quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company’s stock valued at $657,000 after purchasing an additional 36,245 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 113.3% in the second 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 in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Warby Parker in the second quarter valued at about $1,465,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Warby Parker by 37.1% in the first quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock valued at $3,067,000 after purchasing an additional 61,004 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

About Warby Parker

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.