Warby Parker (NYSE:WRBY) Hits New 52-Week High – Here’s What Happened

Warby Parker Inc. (NYSE:WRBY) shares hit a new 52-week high during mid-day 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.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Robert W. Baird lifted their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus lifted their target price on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and an average price target of $18.82.

Warby Parker Price Performance

The company’s 50 day moving average is $17.72 and its 200 day moving average is $16.33.

Insider Activity

In other news, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was 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 in the company, valued at approximately $2,467,083.20. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,143 shares of Warby Parker stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $352,859.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. This represents a 69.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,178 shares of company stock worth $1,339,901. Insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently made changes to their positions in WRBY. Vanguard Group Inc. increased its position in shares of Warby Parker by 2.6% during the first quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock worth $118,095,000 after buying an additional 219,120 shares during the period. Advisors Asset Management Inc. grew its holdings in Warby Parker by 79.9% in the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after purchasing an additional 2,276 shares during the period. SG Americas Securities LLC grew its stake in shares of Warby Parker by 610.3% in the 2nd quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock valued at $1,471,000 after buying an additional 78,702 shares during the period. LVW Advisors LLC acquired a new position in Warby Parker during the 2nd quarter worth approximately $201,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 113.3% in 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. Institutional investors own 93.24% of the company’s stock.

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.