Warby Parker (NYSE:WRBY) Hits New 12-Month High – What’s Next?

Warby Parker Inc. (NYSE:WRBY) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $27.33 and last traded at $26.78, with a volume of 73214 shares trading hands. The stock had previously closed at $26.96.

Wall Street Analyst Weigh In

WRBY has been the subject of a number of recent analyst reports. Telsey Advisory Group upped their price objective 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. Stifel Nicolaus upped their target price 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. Piper Sandler upped their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Morgan Stanley upped their target price on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Robert W. Baird upped their target price on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.67.

Warby Parker Stock Performance

The stock’s fifty day moving average price is $24.60 and its 200-day moving average price is $19.06. The company has a market capitalization of $2.72 billion, a P/E ratio of -99.20 and a beta of 1.88.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $817,645.43. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $275,321.97. This trade represents a 74.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Clive Miller sold 7,016 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the sale, the chief financial officer now owns 182,130 shares in the company, valued at $4,343,800.50. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 558,032 shares of company stock valued at $13,807,864. 26.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Warby Parker by 3.2% during the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after purchasing an additional 69,108 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Warby Parker during the third quarter worth $1,223,000. TimesSquare Capital Management LLC lifted its holdings in shares of Warby Parker by 12.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after purchasing an additional 211,050 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings 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 worth $41,735,000 after purchasing an additional 78,295 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Warby Parker by 20.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock worth $29,111,000 after purchasing an additional 300,891 shares during the period. Institutional investors and hedge funds 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.