Key Points
- Director Bradley Singer sold 15,793 Warby Parker shares on March 4 at an average price of $27.53 (about $434,781), cutting his position by 49.63% and disclosing the trade in an SEC filing.
- WRBY opened at $24.90 and trades in a 52-week range of $13.63–$31.00, with a market cap of $2.66 billion, a very high trailing P/E (~1,245.6) and a beta of 2.05.
- Analysts lean positive—11 Buys, 4 Holds and 1 Sell—with a consensus rating of "Moderate Buy" and an average price target of $27.83; institutional investors own about 93.24% of the stock.
Warby Parker Inc. (NYSE:WRBY - Get Free Report) Director Bradley Singer sold 15,793 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total value of $434,781.29. Following the completion of the transaction, the director owned 16,026 shares of the company's stock, valued at $441,195.78. The trade was a 49.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Warby Parker Stock Performance
WRBY opened at $24.90 on Friday. Warby Parker Inc. has a 52-week low of $13.63 and a 52-week high of $31.00. The firm has a market capitalization of $2.66 billion, a PE ratio of 1,245.62 and a beta of 2.05. The business's 50-day simple moving average is $25.13 and its 200 day simple moving average is $24.04.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on WRBY shares. Citizens Jmp raised Warby Parker from a "market perform" rating to an "outperform" rating and set a $30.00 price objective for the company in a report on Wednesday, December 10th. Piper Sandler boosted their target price on shares of Warby Parker from $22.00 to $32.00 and gave the stock an "overweight" rating in a report on Tuesday, December 16th. UBS Group reaffirmed a "neutral" rating and set a $20.00 price target on shares of Warby Parker in a research report on Wednesday, February 25th. Robert W. Baird set a $35.00 price target on shares of Warby Parker in a research note on Wednesday, December 17th. Finally, Citigroup upgraded shares of Warby Parker from a "hold" rating to an "outperform" rating in a research note on Wednesday, December 10th. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.83.
Read Our Latest Research Report on WRBY
Institutional Trading of Warby Parker
Several hedge funds and other institutional investors have recently modified their holdings of WRBY. JPMorgan Chase & Co. grew its stake in Warby Parker by 987.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company's stock valued at $113,654,000 after buying an additional 4,706,148 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new stake in Warby Parker during the fourth quarter worth approximately $46,484,000. SRS Investment Management LLC bought a new stake in shares of Warby Parker during the fourth quarter worth approximately $31,277,000. Artisan Partners Limited Partnership bought a new stake in shares of Warby Parker during the second quarter worth approximately $27,589,000. Finally, Ranger Investment Management L.P. acquired a new position in shares of Warby Parker in the second quarter valued at approximately $22,198,000. Institutional investors own 93.24% of the company's stock.
Warby Parker Company Profile
(
Get Free Report)
Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.
Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.
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