Short Interest in Warby Parker Inc. (NYSE:WRBY) Decreases By 14.1%

Warby Parker Inc. (NYSE:WRBY) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 11,180,000 shares, a decrease of 14.1% from the December 15th total of 13,010,000 shares. Approximately 12.6% of the company’s stock are sold short. Based on an average daily volume of 1,660,000 shares, the short-interest ratio is currently 6.7 days.

Insider Activity

In other Warby Parker news, CEO Neil Harris Blumenthal sold 36,163 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the completion of the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $275,321.97. This represents a 74.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Clive Miller sold 14,853 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the transaction, the chief financial officer now directly owns 189,146 shares in the company, valued at $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 558,032 shares of company stock worth $13,807,864 over the last quarter. Insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its position in Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after acquiring an additional 1,295,136 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after purchasing an additional 481,900 shares during the last quarter. Verition Fund Management LLC bought a new stake in Warby Parker during the 3rd quarter valued at $7,462,000. Dimensional Fund Advisors LP boosted its position in Warby Parker by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock valued at $21,994,000 after buying an additional 308,472 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in Warby Parker by 20.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after buying an additional 300,891 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several recent research reports. BTIG Research lifted their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JMP Securities boosted their target price on shares of Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Telsey Advisory Group increased their price target on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Stifel Nicolaus raised their price target on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird boosted their price target on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.92.

Warby Parker Trading Down 6.3 %

Shares of WRBY traded down $1.66 during midday trading on Friday, reaching $24.57. The stock had a trading volume of 2,568,556 shares, compared to its average volume of 1,549,504. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -90.98 and a beta of 1.88. Warby Parker has a 12-month low of $11.35 and a 12-month high of $27.10. The company’s 50-day moving average is $24.03 and its 200 day moving average is $18.54.

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.