Warby Parker (NYSE:WRBY) Trading 17.8% Higher – Should You Buy?

Warby Parker Inc. (NYSE:WRBY) shares were up 17.8% during mid-day trading on Thursday . The stock traded as high as $25.00 and last traded at $25.65. Approximately 1,966,695 shares were traded during trading, a decline of 39% from the average daily volume of 3,237,376 shares. The stock had previously closed at $21.77.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WRBY shares. Telsey Advisory Group restated an “outperform” rating and set a $32.00 price objective on shares of Warby Parker in a report on Friday, February 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Warby Parker in a research report on Monday, December 29th. Citizens Jmp raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research report on Wednesday, December 10th. UBS Group reiterated a “neutral” rating and issued a $20.00 price target on shares of Warby Parker in a research note on Wednesday. Finally, Citigroup upgraded shares of Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.83.

Warby Parker Stock Up 19.5%

The business’s 50 day simple moving average is $25.11 and its 200 day simple moving average is $24.02. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 2,596.80 and a beta of 2.05.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 38,832 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the transaction, the director owned 27,057 shares in the company, valued at approximately $786,546.99. This represents a 58.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 150,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the sale, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at $931,315.71. This represents a 80.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 359,424 shares of company stock valued at $9,813,571. 18.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after acquiring an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Warby Parker by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after buying an additional 2,297 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Warby Parker by 96.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after acquiring an additional 929,073 shares during the period. Caxton Associates LLP bought a new position in Warby Parker during the 1st quarter worth approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Warby Parker by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock worth $4,685,000 after buying an additional 38,395 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.