Warby Parker (NYSE:WRBY) Trading Up 4.5% – Here’s Why

Warby Parker Inc. (NYSE:WRBY)’s share price was up 4.5% during mid-day trading on Tuesday . The stock traded as high as $21.44 and last traded at $21.42. Approximately 250,389 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,411,032 shares. The stock had previously closed at $20.50.

Analysts Set New Price Targets

Several research firms recently commented on WRBY. 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, November 7th. The Goldman Sachs Group raised Warby Parker from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $18.00 in a research report on Monday, October 21st. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price target on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Piper Sandler raised their price objective on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.18.

Warby Parker Stock Performance

The stock has a market capitalization of $2.15 billion, a P/E ratio of -78.22 and a beta of 1.80. The firm has a fifty day moving average price of $16.32 and a two-hundred day moving average price of $15.74.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the transaction, the chief financial officer now directly owns 184,251 shares of the company’s stock, valued at approximately $2,395,263. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now directly owns 184,251 shares of the company’s stock, valued at approximately $2,395,263. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of Warby Parker stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $352,859.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $158,301. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is owned by company insiders.

Institutional Trading of Warby Parker

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its position in shares of Warby Parker by 79.9% during the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC bought a new position in Warby Parker during the second quarter valued at approximately $131,000. Choreo LLC purchased a new position in Warby Parker during the 2nd quarter valued at approximately $167,000. SG Americas Securities LLC bought a new stake in Warby Parker in the 1st quarter worth approximately $176,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Warby Parker during the 2nd quarter worth approximately $186,000. 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.