Warby Parker (NYSE:WRBY) Director Bradley Singer Sells 15,793 Shares of Stock

Warby Parker Inc. (NYSE:WRBY) Director Bradley Singer sold 15,793 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total transaction of $434,781.29. Following the transaction, the director directly owned 16,026 shares in the company, valued at approximately $441,195.78. The trade was a 49.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Warby Parker Stock Down 7.3%

WRBY stock opened at $24.90 on Friday. The firm has a 50 day moving average of $25.13 and a two-hundred day moving average of $24.04. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 1,245.62 and a beta of 2.05. Warby Parker Inc. has a 12 month low of $13.63 and a 12 month high of $31.00.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently modified their holdings of the company. Compass Wealth Management LLC bought a new position in shares of Warby Parker during the third quarter worth about $2,184,000. Impax Asset Management Group plc boosted its position in Warby Parker by 28.3% during the 3rd quarter. Impax Asset Management Group plc now owns 385,000 shares of the company’s stock worth $10,618,000 after acquiring an additional 85,000 shares during the last quarter. Ranger Investment Management L.P. bought a new position in shares of Warby Parker during the 2nd quarter worth approximately $22,198,000. JPMorgan Chase & Co. raised its holdings in shares of Warby Parker by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock valued at $201,426,000 after purchasing an additional 2,120,768 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Warby Parker by 1,112.3% in the second quarter. New York State Common Retirement Fund now owns 353,091 shares of the company’s stock worth $7,743,000 after purchasing an additional 323,965 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on WRBY shares. Piper Sandler lifted their target price on shares of Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Telsey Advisory Group reissued an “outperform” rating and issued a $32.00 target price on shares of Warby Parker in a research note on Friday, February 20th. UBS Group reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Warby Parker in a research note on Wednesday, February 25th. Robert W. Baird set a $35.00 price target on shares of Warby Parker in a research report on Wednesday, December 17th. Finally, BTIG Research boosted their price objective on shares of Warby Parker from $25.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $27.83.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.