Warby Parker (NYSE:WRBY) Hits New 1-Year High – Should You Buy?

Warby Parker Inc. (NYSE:WRBY) shares reached a new 52-week high 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

WRBY has been the subject of several recent analyst reports. BTIG Research upped their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. 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 note on Wednesday. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Warby Parker currently has an average rating of “Moderate Buy” and an average target price of $20.00.

Warby Parker Trading Down 0.8 %

The business has a 50-day moving average of $19.96 and a 200 day moving average of $17.01. The firm has a market capitalization of $2.40 billion, a P/E ratio of -87.52 and a beta of 1.93.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Monday, December 9th. The shares were 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 owns 12,177 shares in the company, valued at $287,986.05. This represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $335,826.33. Following the transaction, the chief financial officer now owns 189,146 shares in the company, valued at approximately $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 108,032 shares of company stock valued at $2,503,303. Corporate insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after purchasing an additional 78,295 shares during the period. State Street Corp increased its position in Warby Parker by 3.2% in the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after buying an additional 69,108 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Warby Parker by 7.9% in the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock valued at $32,187,000 after buying an additional 144,623 shares during the period. Jennison Associates LLC raised its stake in shares of 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 buying an additional 232,530 shares during the period. Finally, TimesSquare Capital Management LLC lifted its position in shares of Warby Parker by 12.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after buying an additional 211,050 shares during the last quarter. 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.