Warby Parker (NYSE:WRBY) Reaches New 1-Year High – Should You Buy?

Shares of Warby Parker Inc. (NYSE:WRBY) reached a new 52-week high during trading on Monday . The stock traded as high as $24.14 and last traded at $23.92, with a volume of 78816 shares changing hands. The stock had previously closed at $23.11.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WRBY shares. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird increased their price target on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Telsey Advisory Group increased their price target on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker has a consensus rating of “Moderate Buy” and a consensus price target of $18.82.

Warby Parker Stock Performance

The stock’s 50 day simple moving average is $17.54 and its two-hundred day simple moving average is $16.26.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $13.89, for a total value of $694,500.00. Following the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $169,138.53. This trade represents a 80.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock valued at $1,339,901 over the last quarter. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Warby Parker by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock worth $118,095,000 after acquiring an additional 219,120 shares in the last quarter. 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 worth $41,735,000 after acquiring an additional 78,295 shares in the last quarter. State Street Corp grew its holdings in Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after acquiring an additional 69,108 shares in the last quarter. Geode Capital Management LLC grew its holdings in Warby Parker by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after acquiring an additional 144,623 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Warby Parker by 13.6% during the 3rd quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock worth $31,666,000 after acquiring an additional 232,530 shares in the last quarter. 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.