Warby Parker (NYSE:WRBY) Sets New 1-Year High – Time to Buy?

Warby Parker Inc. (NYSE:WRBY)’s stock price reached a new 52-week high on Friday . The stock traded as high as $25.90 and last traded at $25.79, with a volume of 448568 shares trading hands. The stock had previously closed at $25.35.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WRBY shares. JMP Securities lifted their price objective on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Robert W. Baird upped their price target on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Telsey Advisory Group increased their target price on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group raised their target price on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.73.

Warby Parker Trading Up 4.1 %

The firm’s 50 day moving average price is $22.27 and its two-hundred day moving average price is $17.76. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of -97.78 and a beta of 1.93.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $287,986.05. This represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the transaction, the chief financial officer now directly owns 189,146 shares in the company, valued at $4,276,591.06. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,032 shares of company stock valued at $6,265,864 over the last 90 days. 26.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warby Parker

Large investors have recently modified their holdings of the stock. Marshall Wace LLP increased its position in Warby Parker by 1,013.4% during the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after acquiring an additional 1,295,136 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after buying an additional 481,900 shares during the period. Verition Fund Management LLC acquired a new stake in Warby Parker during the third quarter worth approximately $7,462,000. Dimensional Fund Advisors LP raised its holdings in Warby Parker by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock valued at $21,994,000 after acquiring an additional 308,472 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in shares of Warby Parker by 20.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after acquiring an additional 300,891 shares during the period. 93.24% of the stock is owned by institutional investors.

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.