Warby Parker (NYSE:WRBY) Trading Down 4.6% - What's Next?

Warby Parker Inc. (NYSE:WRBY - Get Free Report) dropped 4.6% on Thursday . The stock traded as low as $14.87 and last traded at $15.06. Approximately 282,972 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,383,010 shares. The stock had previously closed at $15.79.

Wall Street Analyst Weigh In

WRBY has been the topic of a number of recent analyst reports. Loop Capital increased their price objective on Warby Parker from $15.00 to $16.00 and gave the company a "hold" rating in a report on Wednesday, July 10th. Stifel Nicolaus boosted their price objective on Warby Parker from $14.00 to $15.00 and gave the company a "hold" rating in a research note on Friday, August 9th. JMP Securities upgraded shares of Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 target price for the company in a research report on Friday, August 23rd. Telsey Advisory Group reiterated an "outperform" rating and issued a $19.00 target price on shares of Warby Parker in a research note on Thursday, August 8th. Finally, Piper Sandler assumed coverage on shares of Warby Parker in a research note on Friday, August 23rd. They set an "overweight" rating and a $18.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Warby Parker has an average rating of "Moderate Buy" and a consensus target price of $16.75.

Warby Parker Stock Down 4.5 %

The firm has a market capitalization of $1.52 billion, a PE ratio of -32.09 and a beta of 1.82. The firm's 50-day simple moving average is $14.68 and its 200-day simple moving average is $14.94.

Warby Parker (NYSE:WRBY - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $188.22 million during the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. On average, equities research analysts forecast that Warby Parker Inc. will post -0.04 earnings per share for the current year.

Insider Activity at Warby Parker

In other news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares of the company's stock, valued at $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at approximately $158,301. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in shares of Warby Parker by 79.9% during 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 last quarter. First Eagle Investment Management LLC bought a new position in shares of Warby Parker during the 2nd quarter valued at about $131,000. Sciencast Management LP purchased a new position in shares of Warby Parker during the first quarter valued at about $145,000. Principal Financial Group Inc. bought a new stake in shares of Warby Parker in the first quarter worth about $158,000. Finally, Choreo LLC purchased a new stake in shares of Warby Parker in the second quarter worth about $167,000. 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.