Warby Parker (NYSE:WRBY) Stock Price Down 6.6% - Should You Sell?

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) traded down 6.6% during mid-day trading on Friday . The stock traded as low as $24.58 and last traded at $24.48. 260,435 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,594,262 shares. The stock had previously closed at $26.22.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WRBY. 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. Evercore ISI reiterated an "in-line" rating and set a $23.00 price target on shares of Warby Parker in a research note on Friday. Robert W. Baird lifted their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, JMP Securities lifted their price target on shares of Warby Parker from $23.00 to $28.00 and gave the stock a "market outperform" rating in a research note on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Warby Parker currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.92.

Warby Parker Trading Down 6.3 %

The business's 50 day moving average is $24.03 and its two-hundred day moving average is $18.55. The company has a market cap of $2.50 billion, a PE ratio of -90.98 and a beta of 1.88.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 7,016 shares of the business's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the sale, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. The trade was a 3.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $817,645.43. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $275,321.97. This trade represents a 74.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 558,032 shares of company stock worth $13,807,864. Insiders own 26.55% of the company's stock.

Institutional Trading of Warby Parker

Large investors have recently made changes to their positions in the business. First Eagle Investment Management LLC bought a new stake in shares of Warby Parker in the 2nd quarter worth about $131,000. Choreo LLC bought a new stake in shares of Warby Parker in the 2nd quarter worth about $167,000. AQR Capital Management LLC bought a new stake in shares of Warby Parker in the 2nd quarter worth about $186,000. Thrivent Financial for Lutherans bought a new stake in shares of Warby Parker in the 3rd quarter worth about $213,000. Finally, LVW Advisors LLC increased its holdings in shares of Warby Parker by 27.9% in the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company's stock worth $262,000 after buying an additional 3,500 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.