Warby Parker (NYSE:WRBY) Reaches New 1-Year High – Here’s What Happened

Warby Parker Inc. (NYSE:WRBY) shares hit a new 52-week high on Friday . The stock traded as high as $25.90 and last traded at $25.79, with a volume of 448568 shares traded. The stock had previously closed at $25.35.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird increased their price target on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Telsey Advisory Group boosted their price objective on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. JMP Securities upped their price objective on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. Finally, BTIG Research lifted their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.73.

Warby Parker Stock Performance

The stock has a fifty day moving average of $22.46 and a 200-day moving average of $17.85. The company has a market cap of $2.69 billion, a PE ratio of -98.00 and a beta of 1.93.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 93,946 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $25.08, for a total value of $2,356,165.68. Following the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $305,399.16. This represents a 88.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of Warby Parker stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the sale, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,032 shares of company stock worth $6,265,864. 26.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WRBY. Vaughan Nelson Investment Management L.P. boosted its position in Warby Parker by 3.2% during 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 acquiring an additional 78,295 shares in the last quarter. State Street Corp lifted its stake in shares of Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after purchasing an additional 69,108 shares during the last quarter. Geode Capital Management LLC boosted its position in Warby Parker by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock valued at $32,187,000 after purchasing an additional 144,623 shares in the last quarter. Jennison Associates LLC grew its stake in Warby Parker by 13.6% in the third quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock valued at $31,666,000 after purchasing an additional 232,530 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in Warby Parker by 12.8% in the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after purchasing an additional 211,050 shares in the last quarter. 93.24% of the stock is currently 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.