Warby Parker (NYSE:WRBY) Trading Up 7.8%

Warby Parker Inc. (NYSE:WRBY)’s stock price was up 7.8% during trading on Tuesday . The stock traded as high as $13.35 and last traded at $13.35. Approximately 336,861 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,191,253 shares. The stock had previously closed at $12.38.

Analyst Ratings Changes

WRBY has been the topic of several analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Wednesday, February 28th. Morgan Stanley lifted their price objective on Warby Parker from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.29.

Warby Parker Trading Down 2.5 %

The firm has a 50 day moving average of $12.98 and a 200-day moving average of $12.88. The company has a market cap of $1.25 billion, a P/E ratio of -23.61 and a beta of 1.63.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Warby Parker had a negative net margin of 9.44% and a negative return on equity of 16.36%. The company had revenue of $161.86 million for the quarter, compared to the consensus estimate of $161.01 million. Equities analysts predict that Warby Parker Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, CEO David Abraham Gilboa sold 52,065 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.20, for a total transaction of $635,193.00. Following the completion of the transaction, the chief executive officer now owns 12,306 shares in the company, valued at approximately $150,133.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David Abraham Gilboa sold 52,065 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.20, for a total transaction of $635,193.00. Following the sale, the chief executive officer now owns 12,306 shares of the company’s stock, valued at $150,133.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Steven Clive Miller sold 8,708 shares of Warby Parker stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total transaction of $103,451.04. Following the completion of the transaction, the chief financial officer now directly owns 191,104 shares of the company’s stock, valued at $2,270,315.52. The disclosure for this sale can be found here. Insiders have sold a total of 89,084 shares of company stock worth $1,074,979 in the last 90 days. 26.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in shares of Warby Parker during the 4th quarter worth about $40,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Warby Parker by 137,633.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 4,132 shares of the company’s stock valued at $54,000 after buying an additional 4,129 shares during the period. Levin Capital Strategies L.P. bought a new position in shares of Warby Parker during the fourth quarter valued at approximately $141,000. Victory Capital Management Inc. purchased a new stake in shares of Warby Parker in the fourth quarter worth approximately $160,000. Finally, SG Americas Securities LLC raised its holdings in shares of Warby Parker by 47.6% in the third quarter. SG Americas Securities LLC now owns 13,781 shares of the company’s stock worth $181,000 after buying an additional 4,445 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

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.