Short Interest in Warby Parker Inc. (NYSE:WRBY) Drops By 14.1%

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

Warby Parker Stock Performance

Shares of NYSE WRBY traded down $0.06 during mid-day trading on Thursday, reaching $26.24. The company’s stock had a trading volume of 1,037,340 shares, compared to its average volume of 1,743,134. The stock has a 50-day moving average of $23.79 and a two-hundred day moving average of $18.42. The stock has a market capitalization of $2.67 billion, a P/E ratio of -97.20 and a beta of 1.88. Warby Parker has a 1-year low of $11.35 and a 1-year high of $27.10.

Insider Buying and Selling

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the transaction, the chief financial officer now owns 189,146 shares in the company, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 300,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $306,129.78. The trade was a 96.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 558,032 shares of company stock valued at $13,807,864 over the last ninety days. Company insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of hedge funds have recently bought and sold shares of WRBY. First Eagle Investment Management LLC acquired a new position in shares of Warby Parker during the 2nd quarter worth approximately $131,000. Choreo LLC acquired a new position in Warby Parker during the second quarter worth $167,000. AQR Capital Management LLC purchased a new stake in Warby Parker in the 2nd quarter valued at $186,000. Thrivent Financial for Lutherans acquired a new stake in shares of Warby Parker in the 3rd quarter worth $213,000. Finally, LVW Advisors LLC increased its stake in shares of 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 acquiring an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

WRBY has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. BTIG Research increased their target price on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Telsey Advisory Group increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their target price for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warby Parker presently has an average rating of “Moderate Buy” and an average target price of $20.73.

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.