Warby Parker (NYSE:WRBY) Sets New 52-Week High – Still a Buy?

Warby Parker Inc. (NYSE:WRBY) shares hit a new 52-week high during trading on Monday . The stock traded as high as $22.76 and last traded at $22.74, with a volume of 614335 shares traded. The stock had previously closed at $21.45.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Robert W. Baird raised their price target on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Telsey Advisory Group raised their price objective on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Friday, August 23rd. Finally, BTIG Research upped their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.82.

Warby Parker Trading Up 1.1 %

The stock has a fifty day simple moving average of $17.00 and a 200-day simple moving average of $16.04.

Insider Activity at Warby Parker

In other 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 owns 177,488 shares in the company, valued at $2,467,083.20. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $158,301. The trade was a 69.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WRBY. Geode Capital Management LLC raised its holdings in shares of Warby Parker by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after acquiring an additional 144,623 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Warby Parker in the 3rd quarter valued at about $318,000. XTX Topco Ltd lifted its holdings in shares of Warby Parker by 71.8% in the third quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock valued at $721,000 after purchasing an additional 18,443 shares in the last quarter. State Street Corp boosted its position in shares of Warby Parker by 3.2% during the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after buying an additional 69,108 shares during the period. Finally, Invenomic Capital Management LP grew its holdings in shares of Warby Parker by 12.0% during the third quarter. Invenomic Capital Management LP now owns 383,877 shares of the company’s stock worth $6,269,000 after buying an additional 41,110 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

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.