Warby Parker (NYSE:WRBY) Trading 3% Higher - Here's What Happened

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) traded up 3% during 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities dropped their price target on shares of Warby Parker from $30.00 to $22.00 and set a "market outperform" rating on the stock in a research note on Monday, April 14th. Roth Capital reiterated a "neutral" rating and set a $21.00 target price (up from $18.00) on shares of Warby Parker in a research report on Thursday, May 22nd. UBS Group cut their price target on Warby Parker from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Robert W. Baird upped their price target on Warby Parker from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Finally, TD Securities raised their price objective on Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Warby Parker presently has an average rating of "Moderate Buy" and a consensus target price of $22.88.

Warby Parker Stock Down 3.3%

The company has a market capitalization of $2.17 billion, a PE ratio of -76.96 and a beta of 2.01. The company's 50 day moving average is $17.08 and its two-hundred day moving average is $21.63.

Insider Buying and Selling

In related 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 owns 53,869 shares in the company, valued at approximately $1,071,993.10. This trade represents a 38.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 26.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

Several institutional investors have recently modified their holdings of WRBY. Arizona State Retirement System raised its holdings in Warby Parker by 2.6% during the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company's stock valued at $602,000 after buying an additional 619 shares during the period. Mariner LLC raised its stake in shares of Warby Parker by 6.5% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock valued at $261,000 after acquiring an additional 660 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Warby Parker by 10.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company's stock worth $224,000 after acquiring an additional 840 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Warby Parker during the 4th quarter worth about $25,000. Finally, Jones Financial Companies Lllp grew its holdings in 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 purchasing an additional 1,028 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

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.