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

Warby Parker Inc. (NYSE:WRBY - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $18.42 and last traded at $18.38, with a volume of 2027154 shares trading hands. The stock had previously closed at $17.57.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JMP Securities raised 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 note on Friday, August 23rd. 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. Telsey Advisory Group reaffirmed an "outperform" rating and set a $19.00 price target on shares of Warby Parker in a research report on Thursday, October 31st. The Goldman Sachs Group raised Warby Parker from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Finally, BTIG Research boosted their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.30.

Warby Parker Trading Up 4.8 %

The firm has a market cap of $1.85 billion, a P/E ratio of -45.26 and a beta of 1.80. The business's fifty day moving average price is $15.60 and its two-hundred day moving average price is $15.41.

Warby Parker (NYSE:WRBY - Get Free Report) last announced its 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. The business had revenue of $188.22 million for 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%. Research analysts predict that Warby Parker Inc. will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 6,763 shares of the business's stock in a transaction dated 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 directly owns 177,488 shares of the company's stock, valued at $2,467,083.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Neil Harris Blumenthal sold 27,143 shares of Warby Parker stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $352,859.00. Following the transaction, the chief executive officer now owns 12,177 shares of the company's stock, valued at $158,301. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 in the last ninety days. Company 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 added to or reduced their stakes in WRBY. SG Americas Securities LLC raised its position in Warby Parker by 610.3% during the second quarter. SG Americas Securities LLC now owns 91,598 shares of the company's stock valued at $1,471,000 after purchasing an additional 78,702 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Warby Parker by 302.0% during the first 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 in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 113.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company's stock worth $39,787,000 after acquiring an additional 1,315,672 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Warby Parker in the 2nd quarter valued at $1,465,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Warby Parker by 37.1% during the 1st quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company's stock valued at $3,067,000 after purchasing an additional 61,004 shares during the last quarter. Institutional investors 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.

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