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

Warby Parker Inc. (NYSE:WRBYGet Free Report) 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.

Check Out Our Latest Analysis on Warby Parker

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

(Get Free Report)

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.

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