Warby Parker Inc. (NYSE:WRBY) Sees Large Decrease in Short Interest

Warby Parker Inc. (NYSE:WRBY) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 10,549,384 shares, a decline of 20.3% from the December 31st total of 13,241,691 shares. Approximately 12.2% of the company’s shares are sold short. Based on an average daily volume of 4,534,016 shares, the short-interest ratio is currently 2.3 days. Based on an average daily volume of 4,534,016 shares, the short-interest ratio is currently 2.3 days. Approximately 12.2% of the company’s shares are sold short.

Insider Buying and Selling at Warby Parker

In other news, Director Youngme E. Moon sold 38,832 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the transaction, the director directly owned 27,057 shares of the company’s stock, valued at approximately $786,546.99. This trade represents a 58.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total value of $518,431.32. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $520,200. This trade represents a 49.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 359,424 shares of company stock worth $9,813,571 over the last three months. Company insiders own 18.24% of the company’s stock.

Institutional Inflows and Outflows

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

Warby Parker Stock Down 5.3%

Shares of WRBY stock traded down $1.42 during mid-day trading on Friday, reaching $25.44. 3,026,216 shares of the company’s stock traded hands, compared to its average volume of 3,414,741. The company’s 50-day moving average price is $24.75 and its 200-day moving average price is $24.09. The company has a market cap of $2.69 billion, a P/E ratio of 2,544.00 and a beta of 2.05. Warby Parker has a 12 month low of $13.63 and a 12 month high of $31.00.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The business had revenue of $221.68 million for the quarter, compared to analysts’ expectations of $224.49 million. During the same period last year, the business earned ($0.03) earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. Equities analysts predict that Warby Parker will post -0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WRBY shares. Wall Street Zen lowered shares of Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Robert W. Baird set a $35.00 price target on Warby Parker in a report on Wednesday, December 17th. Stifel Nicolaus increased their price objective on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, December 12th. Citigroup upgraded Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th. Finally, Piper Sandler upped their target price on Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.38.

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.