Warby Parker (NYSE:WRBY) Trading Down 3.6% After Insider Selling

Warby Parker Inc. (NYSE:WRBY - Get Free Report) dropped 3.6% during trading on Tuesday following insider selling activity. The stock traded as low as $25.93 and last traded at $26.35. Approximately 138,061 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,608,833 shares. The stock had previously closed at $27.33.

Specifically, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $27.61, for a total value of $1,380,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company's stock, valued at $336,206.97. This trade represents a 80.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Analysts Set New Price Targets

Several research analysts recently commented on WRBY shares. JMP Securities lifted their price target on Warby Parker from $23.00 to $28.00 and gave the stock a "market outperform" rating in a research report on Monday, December 16th. Telsey Advisory Group increased their price target on Warby Parker from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. Citigroup reaffirmed a "sell" rating and set a $23.00 price objective (up from $19.00) on shares of Warby Parker in a research note on Wednesday. Morgan Stanley increased their target price on shares of Warby Parker from $17.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group lifted their price target on shares of Warby Parker from $20.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $21.77.

Warby Parker Trading Up 0.4 %

The business has a 50-day moving average price of $25.13 and a 200-day moving average price of $19.55. The firm has a market cap of $2.68 billion, a P/E ratio of -97.67 and a beta of 1.90.

Institutional Investors Weigh In On Warby Parker

Large investors have recently modified their holdings of the business. Verition Fund Management LLC purchased a new stake in Warby Parker during the third quarter worth $7,462,000. Raymond James Financial Inc. bought a new position in shares of Warby Parker in the 4th quarter worth $8,272,000. Loomis Sayles & Co. L P lifted its stake in shares of Warby Parker by 20.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company's stock worth $29,111,000 after purchasing an additional 300,891 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Warby Parker by 19.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,632,341 shares of the company's stock valued at $39,519,000 after purchasing an additional 268,025 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in Warby Parker in the fourth quarter valued at about $5,855,000. Institutional investors own 93.24% of the company's stock.

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.