Warby Parker (NYSE:WRBY) Shares Gap Up to $12.44

Shares of Warby Parker Inc. (NYSE:WRBY) gapped up before the market opened on Thursday . The stock had previously closed at $12.44, but opened at $14.72. Warby Parker shares last traded at $14.74, with a volume of 569,028 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WRBY shares. Morgan Stanley boosted their price objective on Warby Parker from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Telsey Advisory Group reiterated an “outperform” rating and set a $19.00 price target on shares of Warby Parker in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.29.

Warby Parker Stock Performance

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -27.61 and a beta of 1.64. The company has a 50-day simple moving average of $12.64 and a two-hundred day simple moving average of $12.76.

Warby Parker (NYSE:WRBY) last posted its quarterly 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). The business had revenue of $161.86 million for the quarter, compared to the consensus estimate of $161.01 million. Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. As a group, sell-side analysts predict that Warby Parker Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently added to or reduced their stakes in WRBY. Panagora Asset Management Inc. grew its stake in Warby Parker by 0.4% in the fourth quarter. Panagora Asset Management Inc. now owns 198,671 shares of the company’s stock valued at $2,801,000 after acquiring an additional 847 shares during the period. Jacobson & Schmitt Advisors LLC raised its holdings in Warby Parker by 0.3% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 398,596 shares of the company’s stock worth $5,246,000 after buying an additional 1,120 shares during the last quarter. Equitable Trust Co. lifted its stake in shares of Warby Parker by 6.6% in the fourth quarter. Equitable Trust Co. now owns 21,306 shares of the company’s stock valued at $300,000 after buying an additional 1,324 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Warby Parker by 10.2% during the first quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock valued at $211,000 after buying an additional 1,434 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Warby Parker by 1.1% during the third quarter. Swiss National Bank now owns 159,000 shares of the company’s stock worth $2,092,000 after acquiring an additional 1,800 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.