Warby Parker (NYSE:WRBY) Sees Strong Trading Volume - What's Next?

Warby Parker Inc. (NYSE:WRBY - Get Free Report) saw strong trading volume on Thursday . 1,758,469 shares traded hands during trading, an increase of 18% from the previous session's volume of 1,491,646 shares.The stock last traded at $24.70 and had previously closed at $23.76.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Roth Mkm began coverage on Warby Parker in a research report on Tuesday, February 25th. They issued a "neutral" rating and a $26.00 price target for the company. JMP Securities increased 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 note on Monday, December 16th. William Blair upgraded shares of Warby Parker from a "market perform" rating to an "outperform" rating in a research report on Thursday, November 7th. Citigroup reaffirmed a "sell" rating and issued a $23.00 price target (up previously from $19.00) on shares of Warby Parker in a report on Wednesday, February 5th. Finally, UBS Group raised their price objective on shares of Warby Parker from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Warby Parker presently has an average rating of "Moderate Buy" and an average price target of $23.43.

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Warby Parker Price Performance

The company's 50-day moving average is $25.59 and its 200-day moving average is $20.81. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -89.44 and a beta of 1.90.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 14,853 shares of the firm'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 transaction, the chief financial officer now directly owns 189,146 shares in the company, valued at $4,276,591.06. This trade represents a 7.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 300,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company's stock, valued at approximately $306,129.78. This trade represents a 96.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 608,032 shares of company stock worth $15,188,364 in the last quarter. 26.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC purchased a new position in Warby Parker in the fourth quarter valued at about $25,000. NewEdge Advisors LLC raised its holdings in shares of Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock valued at $29,000 after buying an additional 1,050 shares during the period. Jones Financial Companies Lllp lifted its position in Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after acquiring an additional 1,028 shares in the last quarter. Comerica Bank lifted its position in Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in Warby Parker in the 4th quarter worth approximately $69,000. Institutional investors and hedge funds 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.