Warby Parker (NYSE:WRBY) Shares Down 3.6% on Insider Selling

Warby Parker Inc. (NYSE:WRBY)’s stock price fell 3.6% during trading on Tuesday following insider selling activity. The company traded as low as $25.93 and last traded at $26.35. 138,061 shares traded hands during trading, a decline of 91% from the average session volume of 1,608,833 shares. The stock had previously closed at $27.33.

Specifically, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total value of $1,380,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $336,206.97. The trade was a 80.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WRBY shares. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and boosted their target price for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Morgan Stanley upped their target price on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.67.

Warby Parker Stock Performance

The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -97.04 and a beta of 1.90. The business has a fifty day moving average of $24.93 and a two-hundred day moving average of $19.37.

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in shares of Warby Parker during the 2nd quarter worth $186,000. Millennium Management LLC raised its position in shares of Warby Parker by 26.6% in the 2nd quarter. Millennium Management LLC now owns 299,151 shares of the company’s stock worth $4,804,000 after buying an additional 62,865 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Warby Parker by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock worth $717,000 after buying an additional 3,007 shares during the period. LVW Advisors LLC increased its holdings in Warby Parker by 27.9% in the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. acquired a new stake in shares of Warby Parker during the third quarter valued at about $1,112,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.