Warby Parker Inc. (NYSE:WRBY - Get Free Report) shares dropped 4% during trading on Friday . The company traded as low as $25.65 and last traded at $25.20. Approximately 209,016 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,712,594 shares. The stock had previously closed at $26.24.
Wall Street Analysts Forecast Growth
WRBY has been the topic of a number of recent analyst reports. Telsey Advisory Group upped their price objective on Warby Parker from $22.00 to $26.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. JMP Securities upped their price objective on Warby Parker from $23.00 to $28.00 and gave the company a "market outperform" rating in a report on Monday, December 16th. William Blair upgraded Warby Parker from a "market perform" rating to an "outperform" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a "neutral" rating to a "buy" rating and upped their price objective for the company from $15.00 to $18.00 in a report on Monday, October 21st. Finally, Piper Sandler upped their price objective on Warby Parker from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.67.
Read Our Latest Analysis on WRBY
Warby Parker Stock Down 1.0 %
The business has a 50-day moving average price of $24.46 and a two-hundred day moving average price of $18.89. The firm has a market cap of $2.64 billion, a PE ratio of -96.22 and a beta of 1.88.
Insider Transactions at Warby Parker
In other news, CEO Neil Harris Blumenthal sold 300,000 shares of the company's stock in a transaction 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 owns 12,177 shares of the company's stock, valued at approximately $306,129.78. This represents a 96.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 14,853 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the sale, the chief financial officer now directly owns 189,146 shares in the company, valued at $4,276,591.06. This represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 558,032 shares of company stock valued at $13,807,864. 26.55% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Warby Parker
Large investors have recently bought and sold shares of the business. KBC Group NV increased its holdings in Warby Parker by 39.3% in the fourth quarter. KBC Group NV now owns 4,743 shares of the company's stock valued at $115,000 after buying an additional 1,339 shares during the last quarter. AQR Capital Management LLC acquired a new position in Warby Parker in the second quarter valued at $186,000. Thrivent Financial for Lutherans acquired a new position in Warby Parker in the third quarter valued at $213,000. LVW Advisors LLC boosted its stake in Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company's stock valued at $262,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Warby Parker in the third quarter valued at $318,000. Hedge funds and other institutional investors own 93.24% of the company's stock.
About Warby Parker
(
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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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