Warby Parker (NYSE:WRBY) Trading 5.8% Higher – Time to Buy?

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

Wall Street Analyst Weigh In

Several research firms have recently commented on WRBY. The Goldman Sachs Group upped their price target on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Telsey Advisory Group boosted their price target 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. BTIG Research raised their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus upped their target price on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Get Our Latest Analysis on Warby Parker

Warby Parker Stock Performance

The company’s 50 day simple moving average is $24.27 and its two-hundred day simple moving average is $18.74. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -97.28 and a beta of 1.88.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the transaction, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $287,986.05. The trade was a 80.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 558,032 shares of company stock worth $13,807,864. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently modified their holdings of WRBY. KBC Group NV raised its position in shares of Warby Parker by 39.3% during the 4th quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $115,000 after acquiring an additional 1,339 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Warby Parker by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock worth $782,000 after purchasing an additional 1,556 shares during the period. Hsbc Holdings PLC increased its holdings in Warby Parker by 11.5% in the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock valued at $413,000 after purchasing an additional 2,651 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Warby Parker by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock valued at $717,000 after buying an additional 3,007 shares during the period. Finally, LVW Advisors LLC boosted its holdings in Warby Parker by 27.9% during the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after buying an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

About Warby Parker

(Get Free Report)

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.

Further Reading

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