Warby Parker (NYSE:WRBY) Stock Price Up 7.8%

Warby Parker Inc. (NYSE:WRBY) rose 7.8% during trading on Tuesday . The stock traded as high as $13.35 and last traded at $13.35. Approximately 336,861 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,191,253 shares. The stock had previously closed at $12.38.

Analyst Ratings Changes

WRBY has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Warby Parker from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 price target on shares of Warby Parker in a research note on Wednesday, February 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.29.

Warby Parker Stock Performance

The company’s 50-day moving average is $13.02 and its 200 day moving average is $12.88. The company has a market capitalization of $1.32 billion, a PE ratio of -24.31 and a beta of 1.63.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Warby Parker had a negative net margin of 9.44% and a negative return on equity of 16.36%. The firm had revenue of $161.86 million for the quarter, compared to analysts’ expectations of $161.01 million. On average, analysts forecast that Warby Parker Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO David Abraham Gilboa sold 52,065 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.20, for a total transaction of $635,193.00. Following the sale, the chief executive officer now owns 12,306 shares of the company’s stock, valued at approximately $150,133.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Steven Clive Miller sold 8,708 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $103,451.04. Following the sale, the chief financial officer now owns 191,104 shares of the company’s stock, valued at approximately $2,270,315.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Abraham Gilboa sold 52,065 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.20, for a total transaction of $635,193.00. Following the completion of the transaction, the chief executive officer now owns 12,306 shares in the company, valued at approximately $150,133.20. The disclosure for this sale can be found here. Insiders have sold a total of 89,084 shares of company stock valued at $1,074,979 in the last 90 days. 26.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warby Parker

Several institutional investors have recently made changes to their positions in WRBY. Scopia Capital Management LP raised its stake in Warby Parker by 781.3% during the 3rd quarter. Scopia Capital Management LP now owns 1,590,744 shares of the company’s stock worth $20,934,000 after acquiring an additional 1,410,243 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Warby Parker during the 1st quarter worth approximately $15,812,000. Jennison Associates LLC bought a new stake in Warby Parker during the 4th quarter worth approximately $12,034,000. TimesSquare Capital Management LLC bought a new stake in shares of Warby Parker during the fourth quarter valued at approximately $9,542,000. Finally, Vanguard Group Inc. raised its position in shares of Warby Parker by 7.7% during 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 during the last quarter. 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.