Warby Parker (NYSE:WRBY) Shares Up 4.7% – What’s Next?

Warby Parker Inc. (NYSE:WRBY) shares were up 4.7% during mid-day trading on Tuesday . The company traded as high as $23.19 and last traded at $23.05. Approximately 270,789 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,427,020 shares. The stock had previously closed at $22.02.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WRBY shares. Deutsche Bank Aktiengesellschaft 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 report on Monday, October 21st. BTIG Research boosted their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday, August 23rd. Robert W. Baird lifted their target price on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus upped their price target on shares of Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Warby Parker has a consensus rating of “Moderate Buy” and an average price target of $18.82.

Warby Parker Price Performance

The company has a market capitalization of $2.31 billion, a P/E ratio of -81.56 and a beta of 1.93. The company has a 50 day moving average of $18.55 and a 200-day moving average of $16.59.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction that occurred on 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 approximately $2,467,083.20. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $13.89, for a total value of $694,500.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at $169,138.53. This represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently added to or reduced their stakes in WRBY. First Eagle Investment Management LLC bought a new position in shares of Warby Parker in the 2nd quarter worth about $131,000. Choreo LLC bought a new position in shares of Warby Parker during the second quarter valued at approximately $167,000. AQR Capital Management LLC purchased a new position in shares of Warby Parker during the second quarter valued at approximately $186,000. LVW Advisors LLC bought a new stake in shares of Warby Parker in the 2nd quarter worth approximately $201,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Warby Parker in the 3rd quarter worth approximately $213,000. 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.