Warby Parker (NYSE:WRBY) Stock Price Up 5.4% – Should You Buy?

Shares of Warby Parker Inc. (NYSE:WRBY) traded up 5.4% during mid-day trading on Wednesday . The stock traded as high as $18.62 and last traded at $18.79. 1,044,914 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 1,568,550 shares. The stock had previously closed at $17.82.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WRBY shares. The Goldman Sachs Group boosted 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. Telsey Advisory Group restated an “outperform” rating and set a $28.00 target price on shares of Warby Parker in a research report on Thursday, February 27th. Stifel Nicolaus increased their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird increased their price objective on shares of Warby Parker from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, Evercore ISI reissued an “in-line” rating and issued a $23.00 price objective on shares of Warby Parker in a research note on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.43.

Warby Parker Price Performance

The company has a market capitalization of $1.94 billion, a PE ratio of -69.39 and a beta of 1.91. The firm’s fifty day simple moving average is $24.32 and its 200 day simple moving average is $21.26.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction dated Tuesday, March 4th. The shares were 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 of the company’s stock, valued at $4,815,179.04. This represents a 5.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $657,783.84. Following the sale, the chief executive officer now directly owns 23,961 shares in the company, valued at approximately $563,562.72. The trade was a 53.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 389,651 shares of company stock valued at $9,855,092. 26.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in Warby Parker in the 4th quarter valued at about $25,000. NewEdge Advisors LLC boosted its position in shares of Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,050 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock worth $37,000 after purchasing an additional 1,028 shares during the period. Comerica Bank boosted its position in shares of Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock worth $55,000 after purchasing an additional 1,386 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new position in Warby Parker in the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds 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.