Short Interest in Warby Parker Inc. (NYSE:WRBY) Decreases By 14.1%

Warby Parker Inc. (NYSE:WRBY) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 11,180,000 shares, a decrease of 14.1% from the December 15th total of 13,010,000 shares. Approximately 12.6% of the company’s stock are sold short. Based on an average trading volume of 1,660,000 shares, the days-to-cover ratio is presently 6.7 days.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the sale, the chief financial officer now owns 189,146 shares in the company, valued at $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 36,163 shares of Warby Parker stock in a transaction on Tuesday, December 3rd. The shares were 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 in the company, valued at $275,321.97. This represents a 74.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 558,032 shares of company stock worth $13,807,864 in the last three months. Corporate insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WRBY. Rhumbline Advisers boosted its position in Warby Parker by 6.7% in the second quarter. Rhumbline Advisers now owns 125,302 shares of the company’s stock valued at $2,012,000 after buying an additional 7,820 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Warby Parker by 16.0% in the 2nd quarter. Arizona State Retirement System now owns 23,408 shares of the company’s stock valued at $376,000 after acquiring an additional 3,224 shares during the last quarter. Choreo LLC acquired a new stake in shares of Warby Parker in the second quarter worth $167,000. Dimensional Fund Advisors LP increased its stake in shares of Warby Parker by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after acquiring an additional 308,472 shares during the period. Finally, Renaissance Technologies LLC raised its holdings 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 purchasing an additional 481,900 shares during the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Telsey Advisory Group lifted their price target on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JMP Securities increased their price objective on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Finally, Robert W. Baird boosted their target price on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.73.

Warby Parker Stock Performance

WRBY stock traded down $0.06 during midday trading on Thursday, reaching $26.24. The stock had a trading volume of 1,037,340 shares, compared to its average volume of 1,743,134. The firm has a fifty day simple moving average of $23.79 and a two-hundred day simple moving average of $18.42. Warby Parker has a 52-week low of $11.35 and a 52-week high of $27.10. The stock has a market cap of $2.67 billion, a PE ratio of -97.20 and a beta of 1.88.

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.