Warby Parker (NYSE:WRBY) Stock Price Up 4.7%

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

Analyst Upgrades and Downgrades

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

Warby Parker Stock Up 2.4 %

The stock has a 50-day moving average price of $14.95 and a 200 day moving average price of $14.54. The firm has a market capitalization of $1.49 billion, a PE ratio of -31.91 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results 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 net margin of 6.38% and a negative return on equity of 11.09%. The firm had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. As a group, equities analysts predict that Warby Parker Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other Warby Parker news, CFO Steven Clive Miller sold 15,272 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Neil Harris Blumenthal sold 27,143 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $158,301. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following 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. Insiders sold 99,178 shares of company stock worth $1,339,901 over the last ninety days. Corporate insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Several institutional investors and hedge funds have recently modified their holdings of WRBY. Vanguard Group Inc. grew its stake in shares of Warby Parker by 2.6% in the first 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 stake in Warby Parker by 113.3% during the 2nd 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 in the last quarter. TimesSquare Capital Management LLC increased its holdings in Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after purchasing an additional 1,011,030 shares during the period. Renaissance Technologies LLC raised its position in Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after purchasing an additional 481,900 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Warby Parker by 1,013.4% in the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after purchasing an additional 1,295,136 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.