Warby Parker (NYSE:WRBY) Stock Price Up 6.2%

Warby Parker Inc. (NYSE:WRBY - Get Free Report)'s stock price was up 6.2% during mid-day trading on Monday . The company traded as high as $13.95 and last traded at $13.91. Approximately 168,409 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,380,405 shares. The stock had previously closed at $13.10.

Analysts Set New Price Targets

Several research firms have recently commented on WRBY. Piper Sandler started coverage on Warby Parker in a research note on Friday, August 23rd. They issued an "overweight" rating and a $18.00 price objective for the company. Telsey Advisory Group reaffirmed an "outperform" rating and set a $19.00 price objective on shares of Warby Parker in a report on Thursday, August 8th. Stifel Nicolaus upped their price objective on shares of Warby Parker from $14.00 to $15.00 and gave the company a "hold" rating in a research note on Friday, August 9th. Loop Capital increased their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Wednesday, July 10th. Finally, JMP Securities upgraded 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.11.

Warby Parker Price Performance

The firm's 50-day moving average is $15.10 and its two-hundred day moving average is $14.53. The company has a market cap of $1.40 billion, a P/E ratio of -29.62 and a beta of 1.81.

Warby Parker (NYSE:WRBY - Get Free Report) last announced its quarterly 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 company had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. As a group, sell-side analysts expect that Warby Parker Inc. will post -0.04 EPS for the current year.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 99,816 shares of the firm's stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $16.61, for a total transaction of $1,657,943.76. Following the sale, the chief financial officer now directly owns 173,012 shares of the company's stock, valued at approximately $2,873,729.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Teresa Briggs sold 7,396 shares of Warby Parker stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.31, for a total value of $120,628.76. Following the completion of the sale, the director now owns 38,859 shares of the company's stock, valued at approximately $633,790.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 99,816 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $16.61, for a total transaction of $1,657,943.76. Following the completion of the sale, the chief financial officer now directly owns 173,012 shares of the company's stock, valued at $2,873,729.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,607,212 shares of company stock worth $87,908,573. Company insiders own 26.55% of the company's stock.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its holdings in Warby Parker by 610.3% during the 2nd quarter. SG Americas Securities LLC now owns 91,598 shares of the company's stock worth $1,471,000 after purchasing an additional 78,702 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Warby Parker by 302.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company's stock worth $657,000 after acquiring an additional 36,245 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Warby Parker by 113.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company's stock valued at $39,787,000 after acquiring an additional 1,315,672 shares in the last quarter. Vanguard Group Inc. boosted its stake in Warby Parker by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company's stock worth $119,258,000 after acquiring an additional 607,352 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Warby Parker by 37.1% in the 1st quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company's stock worth $3,067,000 after purchasing an additional 61,004 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.