Warby Parker (NYSE:WRBY) Shares Up 5.9% - What's Next?

Warby Parker Inc. (NYSE:WRBY - Get Free Report) shares were up 5.9% on Monday . The stock traded as high as $23.54 and last traded at $23.51. Approximately 602,454 shares traded hands during trading, a decline of 70% from the average daily volume of 1,993,084 shares. The stock had previously closed at $22.20.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WRBY shares. Stifel Nicolaus raised their price target on shares of Warby Parker from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group raised their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 9th. UBS Group reduced their price target on shares of Warby Parker from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating and set a $25.00 price target (up previously from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. Finally, Telsey Advisory Group reduced their price target on shares of Warby Parker from $30.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.88.

Warby Parker Trading Up 3.7%

The company's 50 day moving average price is $20.54 and its two-hundred day moving average price is $21.24. The firm has a market cap of $2.41 billion, a PE ratio of -191.80 and a beta of 2.09.

Insider Buying and Selling at Warby Parker

In other news, Director Youngme E. Moon sold 33,073 shares of Warby Parker stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total transaction of $658,152.70. Following the transaction, the director owned 53,869 shares in the company, valued at $1,071,993.10. This trade represents a 38.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in shares of Warby Parker by 700.0% during 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 in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Warby Parker during the 1st quarter valued at $27,000. Jones Financial Companies Lllp lifted its stake in shares of Warby Parker by 205.6% during 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 in the last quarter. Comerica Bank lifted its stake in shares of Warby Parker by 153.1% during 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 in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Warby Parker during the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 93.24% of the company's stock.

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.