Warby Parker (NYSE:WRBY) Hits New 12-Month High – Here’s Why

Warby Parker Inc. (NYSE:WRBY) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $25.35 and last traded at $23.71, with a volume of 2224696 shares. The stock had previously closed at $24.29.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WRBY shares. JMP Securities boosted 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. The Goldman Sachs Group boosted their target price 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. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. BTIG Research lifted their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus increased their price objective on shares of Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.73.

Warby Parker Trading Down 2.4 %

The company’s 50-day moving average is $20.43 and its two-hundred day moving average is $17.15. The stock has a market capitalization of $2.41 billion, a P/E ratio of -87.81 and a beta of 1.93.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $275,321.97. This represents a 74.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Steven Clive Miller sold 14,853 shares of Warby Parker stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $335,826.33. Following the sale, the chief financial officer now owns 189,146 shares in the company, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,032 shares of company stock worth $2,503,303. 26.55% of the stock is owned by company insiders.

Institutional Trading of Warby Parker

Institutional investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. increased its stake in shares of Warby Parker by 3.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after acquiring an additional 78,295 shares during the period. State Street Corp boosted its stake in Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after purchasing an additional 69,108 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $32,187,000 after purchasing an additional 144,623 shares in the last quarter. Jennison Associates LLC increased its position in shares of Warby Parker by 13.6% during the 3rd quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock valued at $31,666,000 after purchasing an additional 232,530 shares during the period. Finally, TimesSquare Capital Management LLC raised its stake in shares of Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after buying an additional 211,050 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.