Warby Parker (NYSE:WRBY) Trading Up 4.7% – Time to Buy?

Shares of Warby Parker Inc. (NYSE:WRBY) rose 4.7% on Tuesday . The company traded as high as $23.19 and last traded at $23.05. Approximately 270,789 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,427,020 shares. The stock had previously closed at $22.02.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Friday, August 23rd. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Piper Sandler upped their price objective on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. BTIG Research lifted their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Telsey Advisory Group boosted their target price on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.82.

Warby Parker Trading Up 3.4 %

The stock has a market cap of $2.31 billion, a PE ratio of -81.56 and a beta of 1.93. The business has a 50-day moving average price of $18.55 and a 200 day moving average price of $16.59.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $158,301. This trade represents a 69.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of the business’s 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 sale, the chief financial officer now owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,178 shares of company stock worth $1,339,901 over the last quarter. 26.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. lifted its stake in 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 in the last quarter. State Street Corp raised its position in shares of 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 in the last quarter. Geode Capital Management LLC boosted its stake in Warby Parker by 7.9% during 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 grew its position in Warby Parker by 13.6% during the third quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock worth $31,666,000 after buying an additional 232,530 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after acquiring an additional 211,050 shares during the last quarter. 93.24% of the stock is currently 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.