Warby Parker (NYSE:WRBY) Hits New 12-Month High – Should You Buy?

Shares of Warby Parker Inc. (NYSE:WRBY) hit a new 52-week high during trading on Monday . The stock traded as high as $24.14 and last traded at $23.92, with a volume of 78816 shares changing hands. The stock had previously closed at $23.11.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday, August 23rd. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Robert W. Baird boosted their target price on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.82.

Warby Parker Stock Performance

The business has a 50 day moving average of $17.72 and a 200-day moving average of $16.33.

Insider Activity

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction 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 trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $352,859.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $158,301. The trade was a 69.03 % decrease in their ownership of the stock. 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 over the last ninety days. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its position in Warby Parker by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock valued at $782,000 after purchasing an additional 1,556 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Warby Parker by 79.9% in the first 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 during the period. Hsbc Holdings PLC boosted its holdings in Warby Parker by 11.5% in the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock valued at $413,000 after acquiring an additional 2,651 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Warby Parker by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock valued at $717,000 after acquiring an additional 3,007 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Warby Parker by 16.0% during the 2nd quarter. Arizona State Retirement System now owns 23,408 shares of the company’s stock valued at $376,000 after purchasing an additional 3,224 shares during the period. 93.24% of the stock is owned by institutional investors.

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.