Warby Parker (NYSE:WRBY) Stock Price Up 10.3% – What’s Next?

Warby Parker Inc. (NYSE:WRBYGet Free Report) rose 10.3% during trading on Wednesday . The stock traded as high as $28.23 and last traded at $28.2580. Approximately 944,843 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 3,103,084 shares. The stock had previously closed at $25.61.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several research reports. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Telsey Advisory Group boosted their price objective 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. BTIG Research restated a “buy” rating on shares of Warby Parker in a report on Friday, August 14th. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Finally, Bank of America started coverage on shares of Warby Parker in a research report on Monday, June 29th. They set a “buy” rating and a $33.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.18.

Get Our Latest Research Report on WRBY

Warby Parker Trading Up 10.0%

The company has a 50 day moving average price of $26.86 and a 200 day moving average price of $25.04. The company has a market capitalization of $3.05 billion, a P/E ratio of 403.73, a P/E/G ratio of 5.50 and a beta of 1.92.

Warby Parker (NYSE:WRBYGet Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. The company had revenue of $235.51 million during the quarter, compared to the consensus estimate of $237.98 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Warby Parker’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Warby Parker

In other news, Director Teresa Briggs sold 5,000 shares of Warby Parker stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total value of $129,700.00. Following the completion of the sale, the director directly owned 48,883 shares in the company, valued at approximately $1,268,025.02. The trade was a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Youngme E. Moon sold 10,000 shares of the 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 sale, the director owned 26,061 shares in the company, valued at $691,398.33. The trade was a 27.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 278,167 shares of company stock valued at $8,206,480 in the last ninety days. 16.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ranger Investment Management L.P. bought a new stake in Warby Parker during the second quarter worth $30,949,000. Handelsbanken Fonder AB increased its stake in shares of Warby Parker by 29.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 41,431 shares of the company’s stock valued at $1,257,000 after purchasing an additional 9,400 shares during the last quarter. FNY Investment Advisers LLC raised its holdings in shares of Warby Parker by 50.2% during the 2nd quarter. FNY Investment Advisers LLC now owns 9,949 shares of the company’s stock worth $301,000 after buying an additional 3,325 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Warby Parker by 110.7% during the 1st quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after buying an additional 965 shares in the last quarter. Finally, Essential Partners LLC lifted its position in shares of Warby Parker by 44.2% during the 1st quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock worth $54,000 after buying an additional 788 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Company Profile

(Get Free Report)

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.

Further Reading

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