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

Warby Parker Inc. (NYSE:WRBY) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $25.90 and last traded at $25.79, with a volume of 448568 shares traded. The stock had previously closed at $25.35.

Wall Street Analyst Weigh In

WRBY has been the topic of several recent analyst reports. BTIG Research boosted their price target on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler boosted their target price on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Telsey Advisory Group increased their target price on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their price objective on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.73.

Warby Parker Trading Up 4.1 %

The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -97.78 and a beta of 1.93. The company has a 50 day moving average price of $22.27 and a 200 day moving average price of $17.76.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 14,853 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 93,946 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $25.08, for a total value of $2,356,165.68. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $305,399.16. This trade represents a 88.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,032 shares of company stock worth $6,265,864 over the last 90 days. Insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC bought a new position in Warby Parker during the second quarter worth about $131,000. Choreo LLC bought a new position in shares of Warby Parker during the 2nd quarter valued at about $167,000. AQR Capital Management LLC bought a new position in shares of Warby Parker during the 2nd quarter valued at about $186,000. Thrivent Financial for Lutherans bought a new position in shares of Warby Parker during the 3rd quarter valued at about $213,000. Finally, LVW Advisors LLC lifted its holdings in shares of Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares in the last quarter. 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.