Warby Parker (NYSE:WRBY) Trading Up 7.8%

Warby Parker Inc. (NYSE:WRBY)’s stock price was up 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.

Wall Street Analyst Weigh In

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

Warby Parker Stock Performance

The stock has a market capitalization of $1.25 billion, a P/E ratio of -23.61 and a beta of 1.63. The business has a 50 day simple moving average of $12.98 and a 200-day simple moving average of $12.88.

Warby Parker (NYSE:WRBY) last announced its earnings results on Wednesday, February 28th. The company reported ($0.15) earnings per share 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 the consensus estimate of $161.01 million. Equities research analysts forecast that Warby Parker Inc. will post -0.17 EPS for the current fiscal year.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO David Abraham Gilboa sold 52,065 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $12.20, for a total value of $635,193.00. Following the transaction, the chief executive officer now owns 12,306 shares of the company’s stock, valued at $150,133.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David Abraham Gilboa sold 52,065 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $150,133.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Clive Miller sold 8,708 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total transaction of $103,451.04. Following the completion of the transaction, the chief financial officer now directly owns 191,104 shares of the company’s stock, valued at approximately $2,270,315.52. The disclosure for this sale can be found here. Insiders have sold 89,084 shares of company stock valued at $1,074,979 in the last quarter. Insiders own 26.91% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently bought and sold shares of WRBY. FMR LLC increased its stake in shares of Warby Parker by 0.5% in the third quarter. FMR LLC now owns 9,277,969 shares of the company’s stock worth $122,098,000 after acquiring an additional 43,601 shares during the last quarter. Vanguard Group Inc. increased its position in Warby Parker by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after purchasing an additional 607,352 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Warby Parker by 6.3% during the 4th quarter. Baillie Gifford & Co. now owns 6,430,452 shares of the company’s stock worth $90,669,000 after purchasing an additional 378,781 shares in the last quarter. Scopia Capital Management LP lifted its holdings in shares of Warby Parker by 781.3% during the 3rd quarter. Scopia Capital Management LP now owns 1,590,744 shares of the company’s stock valued at $20,934,000 after buying an additional 1,410,243 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its stake in shares of Warby Parker by 18.9% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,575,000 shares of the company’s stock valued at $20,727,000 after buying an additional 250,000 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.