Warby Parker (NYSE:WRBY) Reaches New 12-Month High Following Analyst Upgrade

Warby Parker Inc. (NYSE:WRBY)’s share price reached a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $18.00 to $22.00. Piper Sandler currently has an overweight rating on the stock. Warby Parker traded as high as $20.29 and last traded at $20.29, with a volume of 1891 shares traded. The stock had previously closed at $19.51.

Several other brokerages also recently weighed in on WRBY. Stifel Nicolaus raised their price target on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st. BTIG Research lifted their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a report on Monday, October 21st. Four 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 presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Insider Activity at Warby Parker

In other news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the sale, the chief financial officer now owns 177,488 shares in the company, valued at $2,467,083.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the transaction, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at $2,467,083.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $13.89, for a total transaction of $694,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $169,138.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,178 shares of company stock worth $1,339,901 over the last three months. Company insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently modified their holdings of WRBY. Advisors Asset Management Inc. increased its holdings in Warby Parker by 79.9% in the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after acquiring an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of Warby Parker in the second quarter valued at about $131,000. Choreo LLC purchased a new stake in shares of Warby Parker during the second quarter worth about $167,000. SG Americas Securities LLC acquired a new position in shares of Warby Parker during the 1st quarter worth about $176,000. Finally, AQR Capital Management LLC purchased a new position in Warby Parker in the 2nd quarter valued at about $186,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Trading Up 3.6 %

The company has a fifty day moving average of $16.17 and a 200-day moving average of $15.70. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -78.63 and a beta of 1.80.

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.