Warby Parker (NYSE:WRBY) Shares Up 5.8% – Here’s What Happened

Warby Parker Inc. (NYSE:WRBY) rose 5.8% on Thursday . The stock traded as high as $26.55 and last traded at $26.43. Approximately 892,625 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,765,296 shares. The stock had previously closed at $24.97.

Analysts Set New Price Targets

A number of analysts have commented on WRBY shares. Evercore ISI reiterated an “in-line” rating and set a $23.00 target price on shares of Warby Parker in a research report on Friday, January 17th. JMP Securities raised their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Monday, December 16th. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird raised their price target on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price objective on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.67.

Warby Parker Stock Performance

The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -96.22 and a beta of 1.88. The stock’s fifty day simple moving average is $24.46 and its two-hundred day simple moving average is $18.87.

Insiders Place Their Bets

In related news, CEO Neil Harris Blumenthal sold 300,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $306,129.78. The trade was a 96.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 7,016 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the sale, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 558,032 shares of company stock worth $13,807,864. 26.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRBY. KBC Group NV boosted its position in Warby Parker by 39.3% in the fourth quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $115,000 after buying an additional 1,339 shares in the last quarter. AQR Capital Management LLC acquired a new stake in Warby Parker during the 2nd quarter valued at $186,000. Thrivent Financial for Lutherans bought a new position in Warby Parker in the 3rd quarter valued at $213,000. LVW Advisors LLC boosted its stake in Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Warby Parker during the third quarter worth $318,000. Institutional investors own 93.24% of the company’s stock.

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.