Warby Parker (NYSE:WRBY) Hits New 52-Week High – What’s Next?

Warby Parker Inc. (NYSE:WRBY)’s share price hit a new 52-week high on Tuesday . The company traded as high as $18.37 and last traded at $18.28, with a volume of 118445 shares. The stock had previously closed at $18.20.

Analysts Set New Price Targets

WRBY has been the topic of several analyst reports. Piper Sandler assumed coverage on Warby Parker in a report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective on the stock. Stifel Nicolaus raised their price target on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their price objective for the company from $15.00 to $18.00 in a research note on Monday. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $18.00 in a research report on Monday. Finally, JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Warby Parker Price Performance

The company’s fifty day moving average is $15.16 and its 200 day moving average is $15.16.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. The business had revenue of $188.22 million for the quarter, compared to the consensus estimate of $186.89 million. As a group, equities analysts expect that Warby Parker Inc. will post -0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Neil Harris Blumenthal sold 27,143 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $158,301. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction 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 sale, the chief financial officer now directly owns 177,488 shares in the company, valued at $2,467,083.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 over the last quarter. 26.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Warby Parker by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock valued at $118,095,000 after purchasing an additional 219,120 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Warby Parker by 113.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock valued at $39,787,000 after buying an additional 1,315,672 shares during the last quarter. TimesSquare Capital Management LLC grew its position in shares of Warby Parker by 149.4% during the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after buying an additional 1,011,030 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after buying an additional 481,900 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Warby Parker by 1,013.4% in the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after acquiring an additional 1,295,136 shares in the last quarter. Institutional investors and hedge funds 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.