Warby Parker (NYSE:WRBY) Stock Price Down 3.1% – Should You Sell?

Warby Parker Inc. (NYSE:WRBY) shares were down 3.1% on Monday . The company traded as low as $20.15 and last traded at $19.82. 72,112 shares traded hands during trading, a decline of 96% from the average session volume of 1,856,273 shares. The stock had previously closed at $20.45.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WRBY. Roth Mkm began coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They set a “neutral” rating and a $26.00 target price for the company. Citigroup reissued an “outperform” rating on shares of Warby Parker in a research note on Friday, February 28th. UBS Group lifted their price objective on Warby Parker from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. Stifel Nicolaus upped their target price on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Roth Capital raised Warby Parker to a “strong-buy” rating in a research note on Monday, February 24th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.43.

Warby Parker Trading Down 1.6 %

The firm has a market cap of $2.09 billion, a P/E ratio of -74.41 and a beta of 1.91. The company’s 50-day moving average is $24.92 and its two-hundred day moving average is $21.23.

Insider Buying and Selling

In other news, CFO Steven Clive Miller sold 11,684 shares of Warby Parker stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the sale, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. The trade was a 5.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 93,946 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $25.08, for a total transaction of $2,356,165.68. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $305,399.16. This trade represents a 88.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 539,651 shares of company stock worth $13,617,652. 26.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WRBY. Janney Montgomery Scott LLC grew its stake in shares of Warby Parker by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock worth $782,000 after acquiring an additional 1,556 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Warby Parker in the third quarter valued at approximately $372,000. Natixis Advisors LLC lifted its stake in shares of Warby Parker by 4.7% during the 3rd quarter. Natixis Advisors LLC now owns 466,413 shares of the company’s stock valued at $7,617,000 after buying an additional 21,121 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after buying an additional 78,295 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Warby Parker during the third quarter worth $213,000. 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.