Warby Parker (NYSE:WRBY) Reaches New 1-Year High – What’s Next?

Warby Parker Inc. (NYSE:WRBY)’s share price hit 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 traded. The stock had previously closed at $26.96.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. BTIG Research increased their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. 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 report on Monday, October 21st. Piper Sandler increased their target price on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Telsey Advisory Group lifted their price target on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.67.

Warby Parker Stock Up 5.6 %

The company has a fifty day moving average price of $24.77 and a two-hundred day moving average price of $19.18.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Harris Blumenthal sold 36,163 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $817,645.43. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of Warby Parker stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the completion of the transaction, the chief financial officer now owns 182,130 shares in the company, valued at $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 558,032 shares of company stock worth $13,807,864 in the last 90 days. Company insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently bought and sold shares of WRBY. KBC Group NV lifted its holdings in shares of Warby Parker by 39.3% in the 4th quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $115,000 after buying an additional 1,339 shares during the period. Shaker Investments LLC OH acquired a new stake in Warby Parker in the fourth quarter valued at $279,000. AQR Capital Management LLC purchased a new stake in shares of Warby Parker during the 2nd quarter worth $186,000. Thrivent Financial for Lutherans purchased a new stake in shares of Warby Parker during the 3rd quarter worth $213,000. Finally, LVW Advisors LLC increased its holdings in shares of Warby Parker by 27.9% in the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors 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.