Warby Parker (NYSE:WRBY) Trading Down 3.1% - Time to Sell?

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) traded down 3.1% on Thursday . The stock traded as low as $24.90 and last traded at $24.92. 577,223 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,444,560 shares. The stock had previously closed at $25.72.

Analyst Upgrades and Downgrades

WRBY has been the subject of several recent analyst reports. JMP Securities raised their target price on Warby Parker from $23.00 to $28.00 and gave the stock a "market outperform" rating in a research note on Monday, December 16th. Stifel Nicolaus raised their price objective on shares of Warby Parker from $17.00 to $20.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Robert W. Baird boosted their target price on shares of Warby Parker from $18.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. The Goldman Sachs Group raised their price target on shares of Warby Parker from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Finally, BTIG Research upped their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Warby Parker currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.73.

Warby Parker Trading Down 2.7 %

The firm has a market cap of $2.54 billion, a P/E ratio of -92.70 and a beta of 1.93. The company's 50-day moving average is $21.56 and its two-hundred day moving average is $17.48.

Insider Activity

In other Warby Parker news, CEO Neil Harris Blumenthal sold 56,054 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $305,520.93. This trade represents a 82.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 14,853 shares of Warby Parker 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 directly owns 189,146 shares in the company, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,032 shares of company stock worth $6,265,864 over the last 90 days. 26.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Warby Parker by 7.9% in the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company's stock worth $32,187,000 after acquiring an additional 144,623 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Warby Parker during the 3rd quarter worth approximately $318,000. XTX Topco Ltd raised its holdings in shares of Warby Parker by 71.8% in the 3rd quarter. XTX Topco Ltd now owns 44,145 shares of the company's stock worth $721,000 after purchasing an additional 18,443 shares during the period. State Street Corp lifted its stake in Warby Parker by 3.2% in the third quarter. State Street Corp now owns 2,209,025 shares of the company's stock valued at $36,073,000 after purchasing an additional 69,108 shares during the last quarter. Finally, Invenomic Capital Management LP grew its holdings in Warby Parker by 12.0% during the third quarter. Invenomic Capital Management LP now owns 383,877 shares of the company's stock valued at $6,269,000 after purchasing an additional 41,110 shares during the period. 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.