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

Shares of Warby Parker Inc. (NYSE:WRBY) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.89 and last traded at $25.72, with a volume of 949970 shares changing hands. The stock had previously closed at $25.07.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WRBY shares. Telsey Advisory Group lifted their price target on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $15.00 to $18.00 in a report on Monday, October 21st. The Goldman Sachs Group boosted their target price on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Finally, Piper Sandler increased their price objective on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Four research 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, Warby Parker has a consensus rating of “Moderate Buy” and a consensus target price of $20.73.

Warby Parker Stock Down 2.7 %

The company has a 50-day moving average price of $21.56 and a two-hundred day moving average price of $17.48. The stock has a market capitalization of $2.54 billion, a P/E ratio of -92.70 and a beta of 1.93.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 93,946 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $25.08, for a total transaction of $2,356,165.68. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $305,399.16. The trade was a 88.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 14,853 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 189,146 shares in the company, valued at $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,032 shares of company stock worth $6,265,864 in the last three months. 26.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Warby Parker

A number of hedge funds have recently made changes to their positions in WRBY. First Eagle Investment Management LLC bought a new stake in Warby Parker in the 2nd quarter worth approximately $131,000. Choreo LLC bought a new stake in shares of Warby Parker in the 2nd quarter worth approximately $167,000. AQR Capital Management LLC purchased a new stake in shares of Warby Parker in the 2nd quarter valued at $186,000. Thrivent Financial for Lutherans bought a new position in shares of Warby Parker during the 3rd quarter valued at $213,000. Finally, LVW Advisors LLC raised its position in Warby Parker by 27.9% in the 3rd 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 period. 93.24% of the stock is owned by institutional investors.

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.