Stock Traders Purchase High Volume of Warby Parker Call Options (NYSE:WRBY)

Warby Parker Inc. (NYSE:WRBY) was the recipient of some unusual options trading activity on Monday. Traders bought 50,003 call options on the company. This represents an increase of approximately 3,467% compared to the typical daily volume of 1,402 call options.

Warby Parker Stock Performance

WRBY stock opened at $21.34 on Tuesday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 2,134.00 and a beta of 2.06. The business’s 50-day moving average is $20.53 and its two-hundred day moving average is $22.84. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $29.73.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate 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 in the previous year, the company earned ($0.03) EPS. Warby Parker’s revenue for the quarter was up 15.2% compared to the same quarter last year. Equities analysts predict that Warby Parker will post -0.12 earnings per share for the current year.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 8,416 shares of the firm’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 transaction of $231,608.32. Following the completion of the sale, the chief executive officer owned 32,733 shares of the company’s stock, valued at $900,812.16. This trade represents a 20.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 50,000 shares of company stock worth $1,376,411 in the last 90 days. Corporate insiders own 18.24% of the company’s stock.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its stake in shares of Warby Parker by 259.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after acquiring an additional 861 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Warby Parker by 400.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock worth $35,000 after purchasing an additional 1,281 shares during the period. Huntington National Bank lifted its position in Warby Parker by 111.0% during the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after purchasing an additional 881 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Warby Parker during the first quarter valued at $58,000. Finally, NewEdge Advisors LLC grew its holdings in Warby Parker by 56.7% during the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock valued at $65,000 after purchasing an additional 850 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on WRBY. Zacks Research raised Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Warby Parker in a research report on Tuesday, November 18th. BTIG Research reduced their price objective on Warby Parker from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wall Street Zen lowered Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warby Parker in a report on Monday, December 1st. Nine analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.53.

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.