Warby Parker (NYSE:WRBY) Sets New 12-Month High – Here’s What Happened

Warby Parker Inc. (NYSE:WRBY)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $24.71 and last traded at $24.47, with a volume of 52141 shares changing hands. The stock had previously closed at $23.81.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. 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 note on Tuesday, November 19th. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Piper Sandler increased their price objective on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus lifted 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. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Warby Parker Price Performance

The business’s fifty day moving average is $19.81 and its two-hundred day moving average is $16.96.

Insiders Place Their Bets

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00. Following the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $287,986.05. This trade represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Steven Clive Miller sold 14,853 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 189,146 shares of the company’s stock, 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 quarter, insiders sold 101,016 shares of company stock valued at $2,335,972. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC purchased a new stake in Warby Parker during the 2nd quarter valued at approximately $131,000. Choreo LLC purchased a new stake in Warby Parker in the 2nd quarter worth $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 purchased a new position in shares of Warby Parker during the third quarter valued at about $213,000. Finally, LVW Advisors LLC increased its holdings in shares of Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after purchasing an additional 3,500 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.