Warby Parker Inc. (NYSE:WRBY – Get Free Report) saw unusually large options trading activity on Thursday. Stock traders bought 8,903 call options on the stock. This represents an increase of approximately 132% compared to the average daily volume of 3,839 call options.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on WRBY shares. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday. UBS Group lifted their price target on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BTIG Research upped their price objective on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Citigroup raised their target price on Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Finally, Telsey Advisory Group boosted their target price on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.
View Our Latest Research Report on WRBY
Warby Parker Price Performance
Warby Parker (NYSE:WRBY – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm had revenue of $242.45 million during the quarter, compared to analyst estimates of $239.44 million. During the same quarter in the prior year, the company earned $0.03 EPS. The business’s revenue was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that Warby Parker will post 0.24 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Bradley E. Singer sold 4,833 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $29.01, for a total value of $140,205.33. Following the completion of the sale, the director owned 100,000 shares in the company, valued at $2,901,000. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 22,442 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $25.09, for a total transaction of $563,069.78. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at approximately $1,258,639.85. The trade was a 30.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 140,793 shares of company stock worth $3,616,716. Insiders own 16.80% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in WRBY. Compass Wealth Management LLC purchased a new stake in shares of Warby Parker in the third quarter valued at about $2,184,000. Impax Asset Management Group plc increased its stake in shares of Warby Parker by 28.3% during the 3rd quarter. Impax Asset Management Group plc now owns 385,000 shares of the company’s stock worth $10,618,000 after purchasing an additional 85,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Warby Parker by 40.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after purchasing an additional 2,120,768 shares during the last quarter. Udine Wealth Management Inc. acquired a new position in shares of Warby Parker during the 4th quarter worth approximately $1,284,000. Finally, Kingdon Capital Management L.L.C. purchased a new stake in Warby Parker in the 3rd quarter valued at approximately $9,653,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.
About Warby Parker
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.
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