Warby Parker (NYSE:WRBY) Stock Price Up 7.8%

Warby Parker Inc. (NYSE:WRBY) shares rose 7.8% during trading on Tuesday . The stock traded as high as $13.35 and last traded at $13.35. Approximately 336,861 shares changed hands during trading, a decline of 72% from the average daily volume of 1,191,253 shares. The stock had previously closed at $12.38.

Analyst Upgrades and Downgrades

WRBY has been the topic of several research analyst reports. Morgan Stanley lifted their price target on Warby Parker from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.29.

Warby Parker Price Performance

The stock has a 50-day simple moving average of $13.02 and a 200 day simple moving average of $12.88. The company has a market capitalization of $1.32 billion, a PE ratio of -24.31 and a beta of 1.63.

Warby Parker (NYSE:WRBY) last posted its earnings results on Wednesday, February 28th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. The firm had revenue of $161.86 million for the quarter, compared to analysts’ expectations of $161.01 million. As a group, research analysts predict that Warby Parker Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at Warby Parker

In other news, CEO David Abraham Gilboa sold 52,065 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.20, for a total value of $635,193.00. Following the completion of the transaction, the chief executive officer now directly owns 12,306 shares of the company’s stock, valued at $150,133.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO David Abraham Gilboa sold 52,065 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.20, for a total value of $635,193.00. Following the completion of the transaction, the chief executive officer now directly owns 12,306 shares of the company’s stock, valued at $150,133.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 8,708 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total value of $103,451.04. Following the completion of the transaction, the chief financial officer now owns 191,104 shares of the company’s stock, valued at $2,270,315.52. The disclosure for this sale can be found here. Insiders sold a total of 89,084 shares of company stock valued at $1,074,979 over the last three months. 26.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warby Parker

Several institutional investors have recently added to or reduced their stakes in the business. Polen Capital Management LLC grew its position in Warby Parker by 12.5% during the third quarter. Polen Capital Management LLC now owns 369,840 shares of the company’s stock valued at $4,867,000 after acquiring an additional 40,982 shares during the period. Vanguard Group Inc. boosted its position in shares of Warby Parker by 2.9% in the third quarter. Vanguard Group Inc. now owns 7,850,634 shares of the company’s stock worth $103,314,000 after buying an additional 219,160 shares during the period. Rock Springs Capital Management LP boosted its position in shares of Warby Parker by 18.9% in the third quarter. Rock Springs Capital Management LP now owns 1,575,000 shares of the company’s stock worth $20,727,000 after buying an additional 250,000 shares during the period. CenterBook Partners LP purchased a new stake in shares of Warby Parker in the third quarter worth about $2,430,000. Finally, FMR LLC boosted its position in shares of Warby Parker by 0.5% in the third quarter. FMR LLC now owns 9,277,969 shares of the company’s stock worth $122,098,000 after buying an additional 43,601 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.