Warby Parker (NYSE:WRBY) Reaches New 1-Year High - Here's What Happened

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) 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 traded. The stock had previously closed at $25.07.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JMP Securities raised their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the company a "market outperform" rating in a research report on Monday, December 16th. The Goldman Sachs Group raised their price target on Warby Parker from $20.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Robert W. Baird lifted their price target on Warby Parker from $18.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Finally, William Blair upgraded shares of Warby Parker from a "market perform" rating to an "outperform" rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Warby Parker currently has an average rating of "Moderate Buy" and an average target price of $20.73.

Warby Parker Stock Up 2.6 %

The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -95.26 and a beta of 1.93. The firm has a 50 day moving average price of $21.39 and a two-hundred day moving average price of $17.43.

Insiders Place Their Bets

In related news, CFO Steven Clive Miller sold 14,853 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the sale, the chief financial officer now directly owns 189,146 shares of the company's stock, valued at $4,276,591.06. The trade was a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 56,054 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $25.09, for a total value of $1,406,394.86. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at $305,520.93. The trade was a 82.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,086 shares of company stock worth $3,909,698 in the last three months. 26.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently made changes to their positions in the company. First Eagle Investment Management LLC bought a new stake in shares of Warby Parker during the 2nd quarter valued at about $131,000. Choreo LLC bought a new position in shares of Warby Parker during the second quarter valued at approximately $167,000. AQR Capital Management LLC acquired a new stake in shares of Warby Parker during the 2nd quarter worth approximately $186,000. Thrivent Financial for Lutherans bought a new stake in shares of Warby Parker in the 3rd quarter worth approximately $213,000. Finally, LVW Advisors LLC boosted its position 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 purchasing an additional 3,500 shares during the period. 93.24% of the stock is currently owned by institutional investors.

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.