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

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) dropped 3.7% during trading on Thursday . The company traded as low as $21.06 and last traded at $20.99. Approximately 78,350 shares were traded during trading, a decline of 96% from the average daily volume of 1,961,487 shares. The stock had previously closed at $21.79.

Analysts Set New Price Targets

WRBY has been the topic of several analyst reports. Robert W. Baird lifted their price target on shares of Warby Parker from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Stifel Nicolaus lifted their target price on Warby Parker from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. JMP Securities reduced their price target on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating for the company in a research report on Monday, April 14th. Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Finally, TD Securities boosted their price objective on Warby Parker from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Warby Parker has an average rating of "Moderate Buy" and a consensus target price of $22.88.

Warby Parker Stock Up 1.8%

The business's fifty day moving average is $19.09 and its two-hundred day moving average is $21.46. The stock has a market capitalization of $2.28 billion, a PE ratio of -180.97 and a beta of 2.10.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total transaction of $658,152.70. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 18.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Warby Parker

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its holdings in Warby Parker by 5.4% during the 1st quarter. Rhumbline Advisers now owns 130,612 shares of the company's stock valued at $2,381,000 after buying an additional 6,697 shares during the period. Anderson Financial Strategies LLC raised its stake in shares of Warby Parker by 39.0% in the first quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company's stock valued at $72,000 after acquiring an additional 1,109 shares during the period. Strs Ohio purchased a new stake in shares of Warby Parker in the first quarter valued at $294,000. Intech Investment Management LLC lifted its holdings in shares of Warby Parker by 98.4% in the 1st quarter. Intech Investment Management LLC now owns 81,249 shares of the company's stock worth $1,481,000 after acquiring an additional 40,307 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Warby Parker by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company's stock worth $4,685,000 after purchasing an additional 38,395 shares during the period. Hedge funds and other institutional investors own 93.24% of the company's stock.

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.