Warby Parker (NYSE:WRBY) Hits New 1-Year High – What’s Next?

Warby Parker Inc. (NYSE:WRBY)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $25.90 and last traded at $25.79, with a volume of 448568 shares traded. The stock had previously closed at $25.35.

Wall Street Analyst Weigh In

WRBY has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $18.00 in a research report on Monday, October 21st. BTIG Research upped their price objective on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird lifted their target price on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, JMP Securities upped their price target on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warby Parker presently has an average rating of “Moderate Buy” and a consensus target price of $20.73.

Warby Parker Stock Performance

The company’s 50-day moving average price is $22.46 and its 200 day moving average price is $17.85. The stock has a market cap of $2.69 billion, a PE ratio of -98.00 and a beta of 1.93.

Insider Activity

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $287,986.05. The trade was a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,032 shares of company stock valued at $6,265,864 in the last 90 days. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Blueshift Asset Management LLC bought a new stake in Warby Parker in the 3rd quarter valued at $1,223,000. State Street Corp increased its holdings in shares of Warby Parker by 3.2% in the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after purchasing an additional 69,108 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Warby Parker in the second quarter worth about $1,465,000. Driehaus Capital Management LLC boosted its stake in Warby Parker by 43.9% during the second quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock valued at $12,952,000 after buying an additional 246,011 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Warby Parker by 3.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after buying an additional 78,295 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

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.