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

Warby Parker Inc. (NYSE:WRBY)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $18.42 and last traded at $18.38, with a volume of 2027154 shares changing hands. The stock had previously closed at $17.57.

Analyst Ratings Changes

Several analysts recently weighed in on WRBY shares. Piper Sandler started coverage on Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 target price for the company. Telsey Advisory Group restated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research note on Thursday. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Friday, August 23rd. Loop Capital increased their target price on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Finally, BTIG Research increased their target price on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.30.

Warby Parker Stock Performance

The stock has a 50-day simple moving average of $15.74 and a 200 day simple moving average of $15.48. The company has a market cap of $1.94 billion, a P/E ratio of -49.51 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The company had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. Sell-side analysts anticipate that Warby Parker Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Transactions at Warby Parker

In other news, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the transaction, the chief financial officer now directly owns 184,251 shares of the company’s stock, valued at approximately $2,395,263. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $158,301. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the sale, the chief financial officer now directly owns 184,251 shares of the company’s stock, valued at $2,395,263. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,178 shares of company stock valued at $1,339,901. Corporate insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its holdings in Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in Warby Parker during the 2nd quarter valued at $131,000. Sciencast Management LP acquired a new stake in Warby Parker during the 1st quarter valued at $145,000. Choreo LLC acquired a new stake in Warby Parker during the 2nd quarter valued at $167,000. Finally, SG Americas Securities LLC acquired a new stake in Warby Parker during the 1st quarter valued at $176,000. 93.24% of the stock is owned by institutional investors and hedge funds.

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.