Warby Parker (NYSE:WRBY) Sees Strong Trading Volume – Here’s What Happened

Warby Parker Inc. (NYSE:WRBY) shares saw unusually-strong trading volume on Thursday . Approximately 1,758,469 shares traded hands during trading, an increase of 18% from the previous session’s volume of 1,491,646 shares.The stock last traded at $24.70 and had previously closed at $23.76.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Robert W. Baird upped their price objective on shares of Warby Parker from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley upped their price objective on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group upped their price objective on shares of Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI reaffirmed an “in-line” rating and set a $23.00 price objective on shares of Warby Parker in a research report on Friday, January 17th. Finally, JMP Securities upped their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.43.

Warby Parker Price Performance

The firm has a market cap of $2.52 billion, a P/E ratio of -91.75 and a beta of 1.90. The stock’s 50 day moving average is $25.62 and its two-hundred day moving average is $20.55.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 7,016 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the sale, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. This represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. This represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 608,032 shares of company stock valued at $15,188,364 over the last quarter. 26.55% of the stock is owned by company insiders.

Institutional Trading of Warby Parker

Several large investors have recently added to or reduced their stakes in the company. Castleark Management LLC bought a new stake in shares of Warby Parker during the fourth quarter valued at approximately $4,294,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Warby Parker by 11.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,625 shares of the company’s stock valued at $5,293,000 after purchasing an additional 22,853 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Warby Parker by 512.8% during the fourth quarter. Two Sigma Advisers LP now owns 124,400 shares of the company’s stock valued at $3,012,000 after purchasing an additional 104,100 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Warby Parker by 72.5% during the fourth quarter. Two Sigma Investments LP now owns 242,582 shares of the company’s stock valued at $5,873,000 after purchasing an additional 101,986 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Warby Parker by 107.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 22,400 shares of the company’s stock valued at $542,000 after purchasing an additional 11,600 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

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.