Warby Parker (NYSE:WRBY) Reaches New 52-Week High Following Analyst Upgrade

Warby Parker Inc. (NYSE:WRBY) shares hit a new 52-week high during mid-day trading on Monday after Piper Sandler raised their price target on the stock from $18.00 to $22.00. Piper Sandler currently has an overweight rating on the stock. Warby Parker traded as high as $20.29 and last traded at $20.29, with a volume of 1891 shares trading hands. The stock had previously closed at $19.51.

Several other equities analysts have also issued reports on WRBY. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Friday, August 23rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research report on Thursday, November 7th. BTIG Research upped their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Finally, The Goldman Sachs Group raised Warby Parker from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.18.

Insider Transactions at Warby Parker

In other news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now owns 177,488 shares in the company, valued at $2,467,083.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $13.89, for a total value of $694,500.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $169,138.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares in the company, valued at approximately $2,467,083.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 in the last 90 days. Corporate insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in Warby Parker by 79.9% in the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after acquiring an additional 2,276 shares during the period. First Eagle Investment Management LLC bought a new position in Warby Parker during the 2nd quarter worth $131,000. Choreo LLC bought a new position in Warby Parker during the 2nd quarter worth $167,000. SG Americas Securities LLC bought a new position in Warby Parker during the 1st quarter worth $176,000. Finally, AQR Capital Management LLC bought a new position in Warby Parker during the 2nd quarter worth $186,000. Institutional investors own 93.24% of the company’s stock.

Warby Parker Trading Up 5.1 %

The stock has a market cap of $2.06 billion, a P/E ratio of -75.96 and a beta of 1.80. The firm has a 50-day simple moving average of $16.03 and a two-hundred day simple moving average of $15.64.

Warby Parker Company Profile

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.