Warby Parker Inc. (NYSE:WRBY) Director Sells $141,360.00 in Stock

Key Points

• Director Teresa Briggs sold 6,000 shares of Warby Parker Inc. stock for a total of $141,360.00, decreasing her position by 11.79% to 44,879 shares.
• Warby Parker stock rose by 9.9%, reaching a price of $26.83, with a trading volume significantly exceeding its average.
• Multiple analysts have increased their price targets for Warby Parker, with a consensus price target of $24.06 and several firms rating the stock as a "buy."

Warby Parker Inc. (NYSE:WRBY - Get Free Report) Director Teresa Briggs sold 6,000 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the transaction, the director owned 44,879 shares of the company's stock, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Warby Parker Stock Up 9.9%

Shares of Warby Parker stock traded up $2.42 during mid-day trading on Wednesday, hitting $26.83. The stock had a trading volume of 2,515,928 shares, compared to its average volume of 1,813,759. The firm has a 50-day moving average of $22.87 and a two-hundred day moving average of $21.06. Warby Parker Inc. has a 12-month low of $12.46 and a 12-month high of $29.73. The firm has a market cap of $2.82 billion, a P/E ratio of -383.23 and a beta of 2.09.

Institutional Trading of Warby Parker

Hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in shares of Warby Parker in the 1st quarter valued at approximately $27,000. NewEdge Advisors LLC grew its stake in shares of Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock valued at $29,000 after buying an additional 1,050 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Warby Parker by 400.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company's stock valued at $35,000 after buying an additional 1,281 shares during the period. Huntington National Bank grew its stake in shares of Warby Parker by 111.0% in the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company's stock valued at $37,000 after buying an additional 881 shares during the period. Finally, Comerica Bank grew its stake in shares of Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after buying an additional 1,386 shares during the period. Hedge funds and other institutional investors own 93.24% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WRBY. UBS Group restated a "neutral" rating and set a $23.00 price target (up previously from $20.00) on shares of Warby Parker in a research report on Friday, August 8th. The Goldman Sachs Group upped their price target on shares of Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. TD Securities upped their price target on shares of Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. BTIG Research restated a "buy" rating and set a $28.00 price target (up previously from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Finally, Robert W. Baird set a $30.00 price target on shares of Warby Parker and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Warby Parker presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.06.

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.

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