Investors Purchase High Volume of Call Options on Warby Parker (NYSE:WRBY)

Warby Parker Inc. (NYSE:WRBY) saw unusually large options trading on Friday. Stock investors purchased 2,533 call options on the company. This represents an increase of approximately 346% compared to the typical volume of 568 call options.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $287,986.05. The trade was a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction that occurred 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 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. This trade represents 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 worth $2,503,303 over the last quarter. Company insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently bought and sold shares of WRBY. First Eagle Investment Management LLC acquired a new stake in Warby Parker in the second quarter valued at $131,000. Choreo LLC acquired a new stake in Warby Parker in the second quarter valued at $167,000. AQR Capital Management LLC acquired a new stake in Warby Parker in the second quarter valued at $186,000. Thrivent Financial for Lutherans acquired a new stake in Warby Parker in the third quarter valued at $213,000. Finally, LVW Advisors LLC increased its holdings in Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WRBY. Piper Sandler upped their target price on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their target price on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, Robert W. Baird upped their target price on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Warby Parker Stock Performance

Shares of NYSE:WRBY opened at $23.63 on Friday. The company has a fifty day moving average of $19.96 and a 200-day moving average of $17.01. The company has a market capitalization of $2.40 billion, a PE ratio of -87.52 and a beta of 1.93. Warby Parker has a 52-week low of $11.35 and a 52-week high of $24.71.

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.