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

Warby Parker Inc. (NYSE:WRBY) shares reached 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. The stock had previously closed at $23.81.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WRBY shares. Stifel Nicolaus lifted their price objective on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the company from $15.00 to $18.00 in a research report on Monday, October 21st. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Friday, August 23rd. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Finally, Telsey Advisory Group upped their price target on Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Warby Parker presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Warby Parker Stock Down 0.8 %

The company’s 50-day moving average is $19.96 and its two-hundred day moving average is $17.01. The company has a market capitalization of $2.40 billion, a P/E ratio of -87.52 and a beta of 1.93.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred 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. This trade represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the sale, the chief financial officer now owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,032 shares of company stock valued at $2,503,303 in the last quarter. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently added to or reduced their stakes in WRBY. Marshall Wace LLP increased its stake in Warby Parker by 1,013.4% in the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after purchasing an additional 1,295,136 shares during the period. Renaissance Technologies LLC increased its stake in shares of Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after buying an additional 481,900 shares during the period. Verition Fund Management LLC bought a new stake in Warby Parker during the 3rd quarter valued at $7,462,000. Zweig DiMenna Associates LLC purchased a new stake in Warby Parker during the 2nd quarter valued at $5,183,000. Finally, Dimensional Fund Advisors LP grew its holdings in Warby Parker by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after acquiring an additional 308,472 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.