Stock Traders Purchase High Volume of Warby Parker Put Options (NYSE:WRBY)

Warby Parker Inc. (NYSE:WRBY) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 5,143 put options on the company. This represents an increase of 341% compared to the typical daily volume of 1,166 put options.

Insider Buying and Selling at Warby Parker

In other news, Director Joel E. Cutler sold 35,000 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the sale, the director owned 19,932 shares in the company, valued at approximately $533,181. This trade represents a 63.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 41,084 shares of Warby Parker stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $27.53, for a total transaction of $1,131,042.52. Following the completion of the sale, the chief executive officer directly owned 32,733 shares in the company, valued at approximately $901,139.49. The trade was a 55.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 85,000 shares of company stock worth $2,312,661 over the last three months. 18.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of Warby Parker by 231.9% during the 1st quarter. CWM LLC now owns 5,855 shares of the company’s stock worth $107,000 after purchasing an additional 4,091 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Warby Parker during the first quarter worth $2,029,000. Cetera Investment Advisers acquired a new position in shares of Warby Parker in the first quarter worth $319,000. GSA Capital Partners LLP lifted its position in shares of Warby Parker by 17.7% in the first quarter. GSA Capital Partners LLP now owns 35,187 shares of the company’s stock valued at $641,000 after acquiring an additional 5,287 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Warby Parker during the first quarter valued at $395,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Zacks Research raised Warby Parker from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. The Goldman Sachs Group increased their price objective on Warby Parker from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Wall Street Zen downgraded Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Cowen reaffirmed a “buy” rating on shares of Warby Parker in a research note on Friday, August 8th. Finally, Roth Capital set a $24.00 price target on shares of Warby Parker and gave the company a “neutral” rating in a report on Tuesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.53.

Warby Parker Price Performance

WRBY traded up $1.02 during trading on Tuesday, reaching $19.79. 919,905 shares of the stock were exchanged, compared to its average volume of 2,193,772. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 1,977.00 and a beta of 2.06. Warby Parker has a 1 year low of $13.63 and a 1 year high of $29.73. The business’s 50 day moving average price is $22.22 and its two-hundred day moving average price is $22.77.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $224.49 million. During the same period last year, the firm earned ($0.03) EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Warby Parker has set its FY 2025 guidance at EPS. On average, analysts anticipate that Warby Parker will post -0.12 EPS for the current year.

About Warby Parker

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.