Warby Parker (NYSE:WRBY) Reaches New 1-Year High – Here’s What Happened

Warby Parker Inc. (NYSE:WRBY)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $22.76 and last traded at $22.74, with a volume of 614335 shares traded. The stock had previously closed at $21.45.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WRBY shares. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group raised Warby Parker from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Stifel Nicolaus upped their target price on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Piper Sandler increased their price target on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Telsey Advisory Group boosted their price objective on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.82.

Warby Parker Stock Performance

The company’s 50 day moving average is $17.00 and its 200 day moving average is $16.04.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at $2,467,083.20. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $352,859.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $158,301. This trade represents a 69.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,178 shares of company stock worth $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Warby Parker in the 1st quarter worth approximately $176,000. Russell Investments Group Ltd. lifted its holdings in shares of Warby Parker by 37.1% during the first quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock valued at $3,067,000 after acquiring an additional 61,004 shares during the period. ProShare Advisors LLC boosted its stake in shares of Warby Parker by 10.2% in the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock valued at $211,000 after purchasing an additional 1,434 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Warby Parker by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock worth $118,095,000 after purchasing an additional 219,120 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after purchasing an additional 2,276 shares in 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.