Warby Parker (NYSE:WRBY) Hits New 52-Week High – What’s Next?

Shares of Warby Parker Inc. (NYSE:WRBY) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.89 and last traded at $25.72, with a volume of 949970 shares. The stock had previously closed at $25.07.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WRBY shares. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $18.00 in a research report on Monday, October 21st. JMP Securities upped their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. Telsey Advisory Group raised their target price on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Stifel Nicolaus upped their price target on shares of Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Robert W. Baird lifted their price target on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.73.

Warby Parker Trading Up 2.6 %

The stock has a market capitalization of $2.61 billion, a PE ratio of -95.26 and a beta of 1.93. The business’s 50-day moving average is $21.19 and its two-hundred day moving average is $17.37.

Insider Transactions at Warby Parker

In other news, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the sale, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $817,645.43. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 164,086 shares of company stock valued at $3,909,698 over the last quarter. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC acquired a new stake in shares of Warby Parker during the second quarter worth approximately $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 acquired a new stake in shares of Warby Parker in the 2nd quarter valued at about $186,000. Thrivent Financial for Lutherans bought a new position in shares of Warby Parker during the third quarter worth about $213,000. Finally, LVW Advisors LLC grew 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 worth $262,000 after purchasing an additional 3,500 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other 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.