Warby Parker (NYSE:WRBY) Shares Down 4% – Time to Sell?

Shares of Warby Parker Inc. (NYSE:WRBY) were down 4% during mid-day trading on Friday . The stock traded as low as $25.65 and last traded at $25.20. Approximately 209,016 shares traded hands 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.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WRBY. Stifel Nicolaus lifted their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. 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 research note on Monday, December 16th. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Robert W. Baird increased their price target on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Warby Parker Stock Performance

The firm has a 50 day simple moving average of $24.37 and a 200 day simple moving average of $18.79. The firm has a market cap of $2.58 billion, a P/E ratio of -94.22 and a beta of 1.88.

Insider Activity at Warby Parker

In other news, 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 transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $275,321.97. The trade was a 74.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 completion of the transaction, the chief financial officer now owns 189,146 shares in the company, valued at approximately $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 558,032 shares of company stock valued at $13,807,864. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Hedge funds have recently made changes to their positions in the stock. KBC Group NV boosted its stake in Warby Parker by 39.3% in the fourth quarter. KBC Group NV now owns 4,743 shares of the company’s stock worth $115,000 after buying an additional 1,339 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Warby Parker in the 2nd quarter worth approximately $186,000. Thrivent Financial for Lutherans purchased a new stake in shares of Warby Parker in the 3rd quarter valued at $213,000. LVW Advisors LLC grew its holdings in shares of Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Warby Parker in the 3rd quarter worth $318,000. 93.24% of the stock is owned by institutional investors.

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.