Warby Parker (NYSE:WRBY) Trading 7.8% Higher

Warby Parker Inc. (NYSE:WRBY - Get Free Report) shares were up 7.8% on Tuesday . The company traded as high as $13.35 and last traded at $13.35. Approximately 336,861 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,191,253 shares. The stock had previously closed at $12.38.

Analysts Set New Price Targets

WRBY has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Warby Parker from $12.00 to $13.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 24th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $19.00 price target on shares of Warby Parker in a research report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $16.29.

Warby Parker Stock Up 8.2 %

The company has a market cap of $1.32 billion, a PE ratio of -24.81 and a beta of 1.63. The business has a 50-day simple moving average of $13.01 and a 200-day simple moving average of $12.88.

Warby Parker (NYSE:WRBY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The business had revenue of $161.86 million during the quarter, compared to analyst estimates of $161.01 million. Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. As a group, equities research analysts predict that Warby Parker Inc. will post -0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, CEO David Abraham Gilboa sold 52,065 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.20, for a total value of $635,193.00. Following the completion of the transaction, the chief executive officer now owns 12,306 shares in the company, valued at $150,133.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO David Abraham Gilboa sold 52,065 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.20, for a total value of $635,193.00. Following the completion of the sale, the chief executive officer now directly owns 12,306 shares of the company's stock, valued at $150,133.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chief financial officer now directly owns 191,104 shares of the company's stock, valued at $2,270,315.52. The disclosure for this sale can be found here. Insiders sold a total of 89,084 shares of company stock worth $1,074,979 over the last 90 days. Corporate insiders own 26.91% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WRBY. Strs Ohio purchased a new position in Warby Parker during the fourth quarter worth about $40,000. Cary Street Partners Investment Advisory LLC raised its holdings in Warby Parker by 137,633.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 4,132 shares of the company's stock worth $54,000 after purchasing an additional 4,129 shares in the last quarter. Levin Capital Strategies L.P. acquired a new position in Warby Parker during the fourth quarter worth about $141,000. Victory Capital Management Inc. acquired a new position in Warby Parker during the fourth quarter worth about $160,000. Finally, SG Americas Securities LLC grew its position in Warby Parker by 47.6% during the third quarter. SG Americas Securities LLC now owns 13,781 shares of the company's stock worth $181,000 after buying an additional 4,445 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.