Warby Parker (NYSE:WRBY) Stock Price Up 4.7%

Warby Parker Inc. (NYSE:WRBY) traded up 4.7% during trading on Monday . The company traded as high as $15.42 and last traded at $15.34. 737,572 shares traded hands during trading, a decline of 47% from the average session volume of 1,386,524 shares. The stock had previously closed at $14.65.

Analysts Set New Price Targets

WRBY has been the topic of several recent analyst reports. Stifel Nicolaus lifted their price objective on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Piper Sandler initiated coverage on shares of Warby Parker in a research note on Friday, August 23rd. They issued an “overweight” rating and a $18.00 price target on the stock. Loop Capital increased their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Friday, August 23rd. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.11.

Warby Parker Trading Down 2.2 %

The firm’s 50 day simple moving average is $14.93 and its 200-day simple moving average is $14.57. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -31.66 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The business had revenue of $188.22 million for the quarter, compared to the consensus estimate of $186.89 million. As a group, equities research analysts predict that Warby Parker Inc. will post -0.04 earnings per share for the current year.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares in the company, valued at $2,467,083.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the transaction, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $158,301. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 in the last 90 days. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in shares of Warby Parker during the 4th quarter worth about $160,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Warby Parker by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 612,448 shares of the company’s stock worth $8,636,000 after acquiring an additional 13,526 shares during the period. Jump Financial LLC acquired a new position in shares of Warby Parker in the fourth quarter valued at approximately $208,000. Trexquant Investment LP grew its position in shares of Warby Parker by 15.1% in the fourth quarter. Trexquant Investment LP now owns 50,847 shares of the company’s stock valued at $717,000 after purchasing an additional 6,666 shares during the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Warby Parker by 55.1% during the fourth quarter. Verition Fund Management LLC now owns 722,179 shares of the company’s stock worth $10,183,000 after purchasing an additional 256,618 shares during the period. 93.24% of the stock is owned by institutional investors.

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.