Warby Parker (NYSE:WRBY) Shares Up 3% - Time to Buy?

Warby Parker Inc. (NYSE:WRBY - Get Free Report)'s stock price traded up 3% during mid-day trading on Friday . The company traded as high as $21.19 and last traded at $21.38. 137,528 shares traded hands during trading, a decline of 93% from the average session volume of 1,903,952 shares. The stock had previously closed at $20.76.

Analyst Upgrades and Downgrades

WRBY has been the topic of a number of research analyst reports. Telsey Advisory Group reduced their target price on Warby Parker from $30.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Robert W. Baird raised their target price on Warby Parker from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, February 28th. UBS Group reduced their target price on Warby Parker from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Citigroup reiterated a "neutral" rating and issued a $22.00 price target (up from $17.00) on shares of Warby Parker in a research note on Wednesday, May 21st. Finally, Roth Capital reiterated a "neutral" rating and issued a $21.00 price target (up from $18.00) on shares of Warby Parker in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.88.

Warby Parker Stock Performance

The business has a fifty day moving average of $17.04 and a 200-day moving average of $21.62. The company has a market capitalization of $2.22 billion, a P/E ratio of -78.52 and a beta of 2.01.

Insider Buying and Selling

In other news, CFO Steven Clive Miller sold 11,684 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now owns 204,727 shares in the company, valued at $4,815,179.04. The trade was a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $658,152.70. Following the completion of the transaction, the director now owns 53,869 shares in the company, valued at $1,071,993.10. The trade was a 38.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,724 shares of company stock worth $1,590,744 in the last ninety days. Corporate insiders own 26.55% of the company's stock.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently modified their holdings of the stock. Durable Capital Partners LP raised its holdings in shares of Warby Parker by 13.2% in the 1st quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company's stock worth $186,172,000 after purchasing an additional 1,194,558 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Warby Parker by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company's stock worth $64,047,000 after purchasing an additional 89,835 shares during the period. American Century Companies Inc. raised its holdings in shares of Warby Parker by 14.6% in the 1st quarter. American Century Companies Inc. now owns 2,456,965 shares of the company's stock worth $44,790,000 after purchasing an additional 312,543 shares during the period. Jennison Associates LLC raised its holdings in shares of Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock worth $39,635,000 after purchasing an additional 416,797 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Warby Parker by 18.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company's stock worth $48,478,000 after purchasing an additional 313,100 shares during the period. 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.