Investors Purchase High Volume of Call Options on Warby Parker (NYSE:WRBY)

Warby Parker Inc. (NYSE:WRBY) saw unusually large options trading activity on Friday. Stock traders purchased 2,533 call options on the company. This is an increase of approximately 346% compared to the average volume of 568 call options.

Warby Parker Trading Down 0.8 %

NYSE:WRBY opened at $23.63 on Friday. The stock has a market capitalization of $2.40 billion, a PE ratio of -87.52 and a beta of 1.93. The firm’s 50 day moving average is $19.96 and its 200 day moving average is $17.01. Warby Parker has a 12 month low of $11.35 and a 12 month high of $24.71.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on WRBY shares. The Goldman Sachs Group raised their price target on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. 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 research report on Friday, August 23rd. Telsey Advisory Group increased their price objective on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird increased their price objective 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. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Insider Transactions at Warby Parker

In other news, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 of the company’s stock, valued at $4,276,591.06. This represents a 7.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $287,986.05. The trade was a 80.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,032 shares of company stock valued at $2,503,303 in the last 90 days. 26.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its holdings in shares of Warby Parker by 3.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock worth $782,000 after purchasing an additional 1,556 shares during the period. Hsbc Holdings PLC raised its holdings in Warby Parker by 11.5% during the 2nd 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 during the period. The Manufacturers Life Insurance Company raised its holdings in Warby Parker by 7.2% during the 2nd 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 during the period. Arizona State Retirement System raised its holdings 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 acquiring an additional 3,224 shares during the period. Finally, LVW Advisors LLC raised its holdings in Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after acquiring an additional 3,500 shares during the period. 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.