Warby Parker (NYSE:WRBY) Shares Up 4.5% – Time to Buy?

Warby Parker Inc. (NYSE:WRBY)’s share price rose 4.5% on Tuesday . The company traded as high as $21.44 and last traded at $21.42. Approximately 250,389 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,411,032 shares. The stock had previously closed at $20.50.

Analyst Upgrades and Downgrades

WRBY has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Piper Sandler upped their price target on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $18.00 in a report on Monday, October 21st. BTIG Research lifted their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.18.

Warby Parker Trading Up 3.6 %

The company’s 50 day simple moving average is $16.03 and its 200 day simple moving average is $15.64. The stock has a market capitalization of $2.14 billion, a PE ratio of -75.96 and a beta of 1.80.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,143 shares of the company’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 completion of the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $352,859.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $158,301. This 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, CFO Steven Clive Miller sold 6,763 shares of the firm’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,178 shares of company stock worth $1,339,901 in the last quarter. 26.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its holdings in Warby Parker by 79.9% during the 1st 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 last quarter. First Eagle Investment Management LLC purchased a new position in shares of Warby Parker in the 2nd quarter worth about $131,000. Choreo LLC purchased a new stake in Warby Parker during the second quarter valued at about $167,000. SG Americas Securities LLC bought a new stake in shares of Warby Parker during the first quarter valued at about $176,000. Finally, AQR Capital Management LLC bought a new stake in shares of Warby Parker during the second quarter valued at about $186,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.