Warby Parker (NYSE:WRBY) Trading 5.4% Higher – Should You Buy?

by · The Markets Daily

Shares of Warby Parker Inc. (NYSE:WRBY – Get Free Report) rose 5.4% on Wednesday . The company traded as high as $18.62 and last traded at $18.79. Approximately 1,044,914 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,568,550 shares. The stock had previously closed at $17.82.

Analyst Ratings Changes

WRBY has been the subject of several recent research reports. Evercore ISI restated an “in-line” rating and set a $23.00 price objective on shares of Warby Parker in a report on Friday, January 17th. Roth Capital raised Warby Parker to a “strong-buy” rating in a research report on Monday, February 24th. Morgan Stanley boosted their price objective on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group boosted their price objective on Warby Parker from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Finally, Roth Mkm initiated coverage on Warby Parker in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $26.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $23.43.

Check Out Our Latest Stock Report on Warby Parker

Warby Parker Stock Performance

The firm has a market capitalization of $1.94 billion, a P/E ratio of -69.39 and a beta of 1.91. The business has a 50 day simple moving average of $24.32 and a two-hundred day simple moving average of $21.26.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. This represents a 80.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the completion of the sale, the chief financial officer now owns 204,727 shares of the company’s stock, valued at approximately $4,815,179.04. This trade represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 389,651 shares of company stock worth $9,855,092. 26.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System raised its position in shares of Warby Parker by 2.6% in the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company’s stock worth $602,000 after acquiring an additional 619 shares in the last quarter. Mariner LLC lifted its position in Warby Parker by 6.5% during the fourth quarter. Mariner LLC now owns 10,772 shares of the company’s stock valued at $261,000 after purchasing an additional 660 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Warby Parker by 10.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company’s stock valued at $224,000 after acquiring an additional 840 shares during the period. Global Retirement Partners LLC bought a new stake in Warby Parker during the fourth quarter valued at about $25,000. Finally, Jones Financial Companies Lllp raised its holdings in Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after acquiring an additional 1,028 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

(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.

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