Warby Parker Target of Unusually Large Options Trading (NYSE:WRBY)

Warby Parker Inc. (NYSE:WRBY) saw unusually large options trading on Thursday. Traders purchased 7,805 call options on the stock. This represents an increase of 72% compared to the typical daily volume of 4,547 call options.

Insider Transactions at Warby Parker

In other news, Director Youngme E. Moon sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $26.53, for a total transaction of $265,300.00. Following the completion of the transaction, the director directly owned 26,061 shares of the company’s stock, valued at approximately $691,398.33. The trade was a 27.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 9,200 shares of Warby Parker stock in a transaction on Monday, July 6th. The stock was sold at an average price of $29.99, for a total transaction of $275,908.00. Following the sale, the chief executive officer owned 31,112 shares in the company, valued at $933,048.88. This represents a 22.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 366,207 shares of company stock valued at $10,814,738 in the last 90 days. Corporate insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after purchasing an additional 86,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Warby Parker by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after buying an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after acquiring an additional 929,073 shares in the last quarter. Caxton Associates LLP bought a new stake in Warby Parker during the 1st quarter worth approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Warby Parker by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after purchasing an additional 38,395 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Price Performance

NYSE WRBY traded down $3.77 during trading hours on Thursday, reaching $25.50. The company’s stock had a trading volume of 2,317,247 shares, compared to its average volume of 3,116,090. Warby Parker has a 52 week low of $14.96 and a 52 week high of $31.00. The firm has a fifty day simple moving average of $26.58 and a 200-day simple moving average of $25.10. The stock has a market cap of $2.73 billion, a P/E ratio of 1,284.64, a P/E/G ratio of 6.22 and a beta of 1.92.

Warby Parker (NYSE:WRBY) last announced its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company had revenue of $235.51 million for the quarter, compared to analyst estimates of $237.98 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, research analysts expect that Warby Parker will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

WRBY has been the topic of several recent research reports. Citigroup restated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Roth Capital restated a “neutral” rating and issued a $28.00 target price on shares of Warby Parker in a report on Wednesday. Telsey Advisory Group lifted their price target on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Finally, Bank of America began coverage on shares of Warby Parker in a research note on Monday, June 29th. They issued a “buy” rating and a $33.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.18.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.