Warby Parker (NYSE:WRBY) Shares Gap Up to $12.44

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $12.44, but opened at $14.72. Warby Parker shares last traded at $14.74, with a volume of 569,028 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WRBY shares. Morgan Stanley upped their price objective on Warby Parker from $12.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, January 24th. Telsey Advisory Group restated an "outperform" rating and issued a $19.00 price target on shares of Warby Parker in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $16.29.

Warby Parker Trading Up 18.0 %

The business's 50-day simple moving average is $12.64 and its two-hundred day simple moving average is $12.76. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -27.61 and a beta of 1.64.

Warby Parker (NYSE:WRBY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. The firm had revenue of $161.86 million for the quarter, compared to analyst estimates of $161.01 million. On average, analysts forecast that Warby Parker Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 8,708 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total value of $103,451.04. Following the transaction, the chief financial officer now directly owns 191,104 shares of the company's stock, valued at $2,270,315.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Steven Clive Miller sold 8,708 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $103,451.04. Following the transaction, the chief financial officer now owns 191,104 shares in the company, valued at $2,270,315.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Abraham Gilboa sold 28,311 shares of the firm's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total value of $336,334.68. Following the completion of the sale, the chief executive officer now owns 12,306 shares of the company's stock, valued at $146,195.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,084 shares of company stock valued at $1,074,979. Corporate insiders own 26.91% of the company's stock.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently modified their holdings of WRBY. FMR LLC increased its stake in Warby Parker by 0.5% during the 3rd quarter. FMR LLC now owns 9,277,969 shares of the company's stock valued at $122,098,000 after purchasing an additional 43,601 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Warby Parker by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company's stock worth $119,258,000 after acquiring an additional 607,352 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Warby Parker by 6.3% in the 4th quarter. Baillie Gifford & Co. now owns 6,430,452 shares of the company's stock worth $90,669,000 after acquiring an additional 378,781 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of Warby Parker by 149.4% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company's stock worth $22,970,000 after acquiring an additional 1,011,030 shares during the last quarter. Finally, Scopia Capital Management LP lifted its position in Warby Parker by 781.3% in the 3rd quarter. Scopia Capital Management LP now owns 1,590,744 shares of the company's stock valued at $20,934,000 after acquiring an additional 1,410,243 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.