Warby Parker (NYSE:WRBY) Shares Down 3.7% - Should You Sell?

Warby Parker Inc. (NYSE:WRBY - Get Free Report)'s share price traded down 3.7% during trading on Thursday . The stock traded as low as $21.06 and last traded at $20.99. 78,350 shares were traded during mid-day trading, a decline of 96% from the average session volume of 1,961,487 shares. The stock had previously closed at $21.79.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Roth Capital restated a "neutral" rating and issued a $21.00 price objective (up previously from $18.00) on shares of Warby Parker in a research report on Thursday, May 22nd. The Goldman Sachs Group upped their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Citigroup restated a "neutral" rating and issued a $22.00 price objective (up previously from $17.00) on shares of Warby Parker in a research report on Wednesday, May 21st. Stifel Nicolaus upped their price objective on Warby Parker from $18.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Finally, UBS Group lowered their price objective on Warby Parker from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $22.88.

Warby Parker Stock Up 1.9%

The business has a 50 day simple moving average of $19.25 and a 200-day simple moving average of $21.42.

Insider Buying and Selling

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of Warby Parker stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total value of $658,152.70. Following the completion of the transaction, the director now directly owns 53,869 shares of the company's stock, valued at $1,071,993.10. The trade was a 38.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 18.24% of the company's stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in shares of Warby Parker in the 4th quarter valued at about $25,000. New York State Teachers Retirement System purchased a new position in shares of Warby Parker in the 1st quarter valued at about $27,000. NewEdge Advisors LLC boosted 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. Jones Financial Companies Lllp boosted its stake in shares of Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after buying an additional 1,028 shares during the period. Finally, Comerica Bank boosted 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. 93.24% of the stock is owned by institutional investors and hedge funds.

About Warby Parker

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.