Warby Parker Inc. (NYSE:WRBY) Short Interest Down 14.1% in December

Warby Parker Inc. (NYSE:WRBY) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 11,180,000 shares, a decline of 14.1% from the December 15th total of 13,010,000 shares. Approximately 12.6% of the company’s shares are sold short. Based on an average daily trading volume, of 1,660,000 shares, the short-interest ratio is presently 6.7 days.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 300,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total value 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. This represents a 96.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of Warby Parker stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the sale, the chief financial officer now owns 182,130 shares in the company, valued at $4,343,800.50. This represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 558,032 shares of company stock valued at $13,807,864. Company insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Warby Parker by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 125,302 shares of the company’s stock valued at $2,012,000 after buying an additional 7,820 shares in the last quarter. Arizona State Retirement System lifted its holdings in Warby Parker by 16.0% during the second quarter. Arizona State Retirement System now owns 23,408 shares of the company’s stock valued at $376,000 after purchasing an additional 3,224 shares in the last quarter. Choreo LLC bought a new position in shares of Warby Parker in the second quarter worth approximately $167,000. Dimensional Fund Advisors LP increased its stake in shares of Warby Parker by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after purchasing an additional 308,472 shares in the last quarter. Finally, 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 purchasing an additional 481,900 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WRBY. Robert W. Baird increased their target price on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their target price on shares of Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Telsey Advisory Group increased their price target on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.92.

Warby Parker Price Performance

Warby Parker stock traded down $1.66 during mid-day trading on Friday, reaching $24.57. 2,568,556 shares of the stock traded hands, compared to its average volume of 1,549,504. The stock has a market capitalization of $2.50 billion, a PE ratio of -90.98 and a beta of 1.88. The business’s 50-day moving average is $24.03 and its 200-day moving average is $18.54. Warby Parker has a 12-month low of $11.35 and a 12-month high of $27.10.

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.