Warby Parker Sees Unusually High Options Volume (NYSE:WRBY)

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Telsey Advisory Group upped their price target on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. BTIG Research lifted their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird increased their price objective 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. Finally, Stifel Nicolaus raised their price objective on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday. Four investment 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, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction dated 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 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 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 stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total value of $167,331.60. Following the sale, the chief financial officer now owns 182,130 shares of the company’s stock, valued at $4,343,800.50. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,032 shares of company stock worth $2,503,303. Company insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. raised its position in Warby Parker by 113.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after purchasing an additional 1,315,672 shares during the period. Marshall Wace LLP lifted its stake in shares of Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after acquiring an additional 1,295,136 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Warby Parker by 44.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after acquiring an additional 481,900 shares during the last quarter. Verition Fund Management LLC purchased a new position in Warby Parker during the 3rd quarter valued at $7,462,000. Finally, Zweig DiMenna Associates LLC bought a new position in Warby Parker in the 2nd quarter valued at $5,183,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Price Performance

Shares of WRBY stock opened at $23.63 on Friday. The company has a market cap of $2.40 billion, a PE ratio of -87.52 and a beta of 1.93. Warby Parker has a 1 year low of $11.35 and a 1 year high of $24.71. The stock’s 50 day simple moving average is $19.96 and its two-hundred day simple moving average is $17.01.

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.