Warby Parker (NYSE:WRBY) Sets New 12-Month High – Here’s Why

Shares of Warby Parker Inc. (NYSE:WRBY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $25.89 and last traded at $25.72, with a volume of 949970 shares changing hands. The stock had previously closed at $25.07.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WRBY. Telsey Advisory Group upped their price target on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and raised their target price for the company from $15.00 to $18.00 in a report on Monday, October 21st. The Goldman Sachs Group boosted their price target on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. 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, December 11th. Finally, BTIG Research boosted 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. 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 currently has an average rating of “Moderate Buy” and an average price target of $20.73.

Warby Parker Trading Down 2.7 %

The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -92.70 and a beta of 1.93. The firm’s 50-day moving average is $21.56 and its 200 day moving average is $17.48.

Insider Activity

In other news, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the transaction, the chief financial officer now owns 182,130 shares in the company, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 93,946 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $25.08, for a total transaction of $2,356,165.68. Following the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $305,399.16. This trade represents a 88.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,032 shares of company stock valued at $6,265,864. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Warby Parker by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock valued at $32,187,000 after purchasing an additional 144,623 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Warby Parker in the third quarter valued at approximately $318,000. XTX Topco Ltd boosted its holdings in shares of Warby Parker by 71.8% during the 3rd quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock worth $721,000 after buying an additional 18,443 shares in the last quarter. State Street Corp grew its position in shares of Warby Parker by 3.2% during the 3rd 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 period. Finally, Invenomic Capital Management LP increased its stake in shares of Warby Parker by 12.0% in the 3rd quarter. Invenomic Capital Management LP now owns 383,877 shares of the company’s stock valued at $6,269,000 after acquiring an additional 41,110 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

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.