Warby Parker Target of Unusually High Options Trading (NYSE:WRBY)

Warby Parker Inc. (NYSE:WRBY) was the recipient of unusually large options trading activity on Friday. Stock investors bought 2,533 call options on the stock. This represents an increase of 346% compared to the average volume of 568 call options.

Insider Transactions at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $275,321.97. This represents a 74.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the transaction, the chief financial officer now directly owns 189,146 shares in the company, valued at $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,016 shares of company stock worth $2,335,972. 26.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in shares of Warby Parker by 610.3% during the second quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock worth $1,471,000 after acquiring an additional 78,702 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings 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. Blueshift Asset Management LLC acquired a new stake in shares of Warby Parker during the 3rd quarter valued at about $1,223,000. Maverick Capital Ltd. bought a new stake in shares of Warby Parker in the 2nd quarter valued at approximately $1,465,000. Finally, Driehaus Capital Management LLC increased its holdings in Warby Parker by 43.9% in the second quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock worth $12,952,000 after buying an additional 246,011 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Price Performance

Shares of WRBY traded up $0.01 during trading hours on Friday, hitting $23.82. 364,218 shares of the company were exchanged, compared to its average volume of 1,428,781. The firm has a fifty day simple moving average of $19.81 and a 200-day simple moving average of $16.96. The company has a market capitalization of $2.42 billion, a PE ratio of -89.04 and a beta of 1.93. Warby Parker has a one year low of $11.35 and a one year high of $24.71.

Analysts Set New Price Targets

WRBY has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Friday, August 23rd. Piper Sandler boosted their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group increased their price target on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday. Finally, BTIG Research upped their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Warby Parker currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

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.