Warby Parker (NYSE:WRBY) Trading Up 4.7%

Warby Parker Inc. (NYSE:WRBY)’s share price rose 4.7% during mid-day trading on Monday . The company traded as high as $15.42 and last traded at $15.34. Approximately 737,572 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 1,386,524 shares. The stock had previously closed at $14.65.

Analysts Set New Price Targets

WRBY has been the topic of several research reports. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, August 23rd. Telsey Advisory Group restated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. Loop Capital lifted their price target on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus boosted their price target on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Piper Sandler initiated coverage on Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.11.

Warby Parker Stock Down 2.2 %

The firm has a 50 day simple moving average of $14.93 and a two-hundred day simple moving average of $14.57. The stock has a market capitalization of $1.47 billion, a P/E ratio of -31.66 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) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. On average, research analysts predict that Warby Parker Inc. will post -0.04 earnings per share for the current year.

Insider Activity

In related news, CFO Steven Clive Miller sold 15,272 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the transaction, the chief financial officer now directly owns 184,251 shares in the company, valued at approximately $2,395,263. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Bradley E. Singer purchased 50,000 shares of Warby Parker stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the acquisition, the director now owns 100,000 shares in the company, valued at approximately $1,300,000. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven Clive Miller sold 15,272 shares of the company’s stock in a transaction that occurred 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 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. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,178 shares of company stock worth $1,339,901. Corporate insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 113.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after purchasing an additional 1,315,672 shares during the period. Marshall Wace LLP lifted its holdings in Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after buying an additional 1,295,136 shares during the period. TimesSquare Capital Management LLC grew its position in shares of Warby Parker by 149.4% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock valued at $22,970,000 after buying an additional 1,011,030 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Warby Parker by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after buying an additional 607,352 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Warby Parker by 44.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after acquiring an additional 481,900 shares during the last quarter. 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.