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

Shares of Warby Parker Inc. (NYSE:WRBY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.37 and last traded at $18.28, with a volume of 118445 shares changing hands. The stock had previously closed at $18.20.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WRBY. The Goldman Sachs Group upgraded Warby Parker from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $15.00 to $18.00 in a research note on Monday. Piper Sandler started coverage on shares of Warby Parker in a research report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Monday. Stifel Nicolaus raised their target price on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a 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. According to data from MarketBeat.com, Warby Parker has an average rating of “Moderate Buy” and an average price target of $17.00.

Warby Parker Stock Down 2.1 %

The firm’s 50-day simple moving average is $15.16 and its 200 day simple moving average is $15.16.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $188.22 million during the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. On average, sell-side analysts forecast that Warby Parker Inc. will post -0.04 earnings per share for the current year.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the transaction, the chief financial officer now owns 177,488 shares in the company, valued at $2,467,083.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the transaction, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bradley E. Singer acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $1,300,000. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 over the last ninety days. 26.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. grew its stake 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 during the last quarter. Marshall Wace LLP boosted its holdings in Warby Parker by 1,013.4% during the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after buying an additional 1,295,136 shares in the last quarter. TimesSquare Capital Management LLC grew its position in Warby Parker by 149.4% in the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after buying an additional 1,011,030 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Warby Parker by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after buying an additional 607,352 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Warby Parker by 44.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after acquiring an additional 481,900 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.