Warby Parker (NYSE:WRBY) Hits New 12-Month High - Time to Buy?

Warby Parker Inc. (NYSE:WRBY - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $25.90 and last traded at $25.79, with a volume of 448568 shares changing hands. The stock had previously closed at $25.35.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. BTIG Research lifted their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Robert W. Baird upped their price target on Warby Parker from $18.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Stifel Nicolaus raised their price objective on Warby Parker from $17.00 to $20.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a "neutral" rating to a "buy" rating and increased their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, The Goldman Sachs Group upped their price objective on shares of Warby Parker from $20.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.73.

Warby Parker Stock Performance

The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of -98.00 and a beta of 1.93. The firm's 50 day simple moving average is $22.46 and its 200 day simple moving average is $17.84.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Harris Blumenthal sold 93,946 shares of Warby Parker stock in a transaction on Friday, December 20th. The shares were sold at an average price of $25.08, for a total transaction of $2,356,165.68. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $305,399.16. This represents a 88.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,032 shares of company stock worth $6,265,864. Insiders own 26.55% of the company's stock.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently bought and sold shares of WRBY. First Eagle Investment Management LLC acquired a new stake in shares of Warby Parker in the 2nd quarter worth $131,000. Choreo LLC acquired a new stake in Warby Parker during the second quarter worth about $167,000. AQR Capital Management LLC purchased a new position in Warby Parker during the second quarter worth about $186,000. Thrivent Financial for Lutherans acquired a new position in Warby Parker in the 3rd quarter valued at about $213,000. Finally, LVW Advisors LLC boosted its holdings in Warby Parker by 27.9% in 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 last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.