Warby Parker (NYSE:WRBY) Shares Gap Up – What’s Next?

Warby Parker Inc. (NYSE:WRBY) gapped up before the market opened on Wednesday . The stock had previously closed at $26.65, but opened at $27.73. Warby Parker shares last traded at $27.54, with a volume of 400,324 shares trading hands.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday. The Goldman Sachs Group upped their price objective on shares of Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 6th. Wall Street Zen downgraded shares of Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research raised shares of Warby Parker from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Finally, UBS Group cut their price objective on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

Warby Parker Price Performance

The business’s fifty day moving average price is $20.75 and its 200-day moving average price is $23.18. The stock has a market capitalization of $2.83 billion, a PE ratio of 2,672.00 and a beta of 2.06.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The firm had revenue of $221.68 million for the quarter, compared to the consensus estimate of $224.49 million. During the same period last year, the company posted ($0.03) EPS. The business’s revenue was up 15.2% on a year-over-year basis. On average, analysts expect that Warby Parker Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Warby Parker news, Director Joel E. Cutler sold 19,932 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total value of $518,431.32. Following the sale, the director owned 20,000 shares of the company’s stock, valued at $520,200. This trade represents a 49.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 100,000 shares of Warby Parker stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $30.29, for a total value of $3,029,000.00. Following the sale, the chief executive officer owned 37,119 shares of the company’s stock, valued at approximately $1,124,334.51. This trade represents a 72.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 158,764 shares of company stock worth $4,676,278. Corporate insiders own 18.24% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently bought and sold shares of WRBY. Farther Finance Advisors LLC grew its stake in Warby Parker by 259.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after buying an additional 861 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Warby Parker by 400.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after purchasing an additional 1,281 shares in the last quarter. Huntington National Bank lifted its stake in Warby Parker by 111.0% during the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after purchasing an additional 881 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Warby Parker by 56.7% in the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after purchasing an additional 850 shares in the last quarter. Finally, Anderson Financial Strategies LLC increased its position in shares of Warby Parker by 39.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company’s stock valued at $72,000 after purchasing an additional 1,109 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.