Warby Parker (NYSE:WRBY) Sees Large Volume Increase – Here’s What Happened

Warby Parker Inc. (NYSE:WRBY) shares saw an uptick in trading volume on Thursday . 1,758,469 shares were traded during mid-day trading, an increase of 18% from the previous session’s volume of 1,491,646 shares.The stock last traded at $24.70 and had previously closed at $23.76.

Analyst Ratings Changes

A number of research firms recently commented on WRBY. The Goldman Sachs Group lifted their price target on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Stifel Nicolaus lifted their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their price target on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Finally, Robert W. Baird boosted their target price on Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.43.

Warby Parker Price Performance

The company has a market cap of $2.52 billion, a P/E ratio of -91.75 and a beta of 1.90. The company has a fifty day simple moving average of $25.62 and a 200-day simple moving average of $20.55.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $287,986.05. The trade was a 80.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 14,853 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 608,032 shares of company stock worth $15,188,364. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Warby Parker by 3.2% in the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after purchasing an additional 69,108 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Warby Parker in the 3rd quarter valued at $1,223,000. TimesSquare Capital Management LLC lifted its stake in shares of Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after purchasing an additional 211,050 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after purchasing an additional 78,295 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its stake in shares of Warby Parker by 20.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after purchasing an additional 300,891 shares during the last quarter. 93.24% of the stock is currently owned by hedge funds and other 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.