Investors Buy High Volume of Put Options on Warby Parker (NYSE:WRBY)

Warby Parker Inc. (NYSE:WRBY) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 5,143 put options on the company. This is an increase of 341% compared to the average daily volume of 1,166 put options.

Insider Activity

In other Warby Parker news, Director Joel E. Cutler sold 35,000 shares of Warby Parker stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $26.75, for a total transaction of $936,250.00. Following the transaction, the director owned 19,932 shares of the company’s stock, valued at $533,181. This trade represents a 63.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 8,416 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.52, for a total value of $231,608.32. Following the completion of the transaction, the chief executive officer directly owned 32,733 shares of the company’s stock, valued at approximately $900,812.16. This represents a 20.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 85,000 shares of company stock valued at $2,312,661. Company insiders own 18.24% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WRBY. Man Group plc boosted its position in shares of Warby Parker by 1.6% during the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after acquiring an additional 400 shares during the last quarter. Choreo LLC raised its stake in Warby Parker by 4.6% in the third quarter. Choreo LLC now owns 16,605 shares of the company’s stock valued at $458,000 after purchasing an additional 728 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Warby Parker by 8.3% during the second quarter. Ameritas Investment Partners Inc. now owns 10,034 shares of the company’s stock valued at $220,000 after purchasing an additional 769 shares during the last quarter. New York State Teachers Retirement System grew its stake in Warby Parker by 10.1% in the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock worth $246,000 after buying an additional 816 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Warby Parker by 5.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 15,899 shares of the company’s stock worth $349,000 after buying an additional 819 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WRBY. Zacks Research upgraded Warby Parker from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Stifel Nicolaus raised their price objective on shares of Warby Parker from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, August 8th. The Goldman Sachs Group boosted their target price on shares of Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Wall Street Zen lowered shares of Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, UBS Group lowered their price target on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.53.

Warby Parker Stock Performance

NYSE:WRBY opened at $19.98 on Wednesday. Warby Parker has a 52-week low of $13.63 and a 52-week high of $29.73. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 1,998.40 and a beta of 2.06. The business’s fifty day moving average is $22.08 and its 200 day moving average is $22.80.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share 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 company had revenue of $221.68 million for the quarter, compared to analysts’ expectations of $224.49 million. During the same period in the previous year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Warby Parker has set its FY 2025 guidance at EPS. Equities analysts predict that Warby Parker will post -0.12 EPS for the current fiscal year.

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.