Warby Parker (NYSE:WRBY) Shares Down 4.4%

Warby Parker Inc. (NYSE:WRBY)’s stock price was down 4.4% during trading on Monday . The company traded as low as $12.33 and last traded at $12.35. Approximately 394,662 shares traded hands during trading, a decline of 67% from the average daily volume of 1,190,212 shares. The stock had previously closed at $12.92.

Analysts Set New Price Targets

A number of research firms have issued reports on WRBY. Morgan Stanley boosted their price objective on shares of Warby Parker from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Warby Parker currently has a consensus rating of “Hold” and an average target price of $16.29.

Warby Parker Stock Down 3.5 %

The company has a 50 day moving average price of $12.91 and a 200-day moving average price of $12.85.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company had revenue of $161.86 million for the quarter, compared to the consensus estimate of $161.01 million. Warby Parker had a negative net margin of 9.44% and a negative return on equity of 16.36%. On average, sell-side analysts expect that Warby Parker Inc. will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO David Abraham Gilboa sold 28,311 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $336,334.68. Following the completion of the sale, the chief executive officer now directly owns 12,306 shares in the company, valued at $146,195.28. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Warby Parker news, CEO David Abraham Gilboa sold 28,311 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total transaction of $336,334.68. Following the transaction, the chief executive officer now directly owns 12,306 shares in the company, valued at approximately $146,195.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Clive Miller sold 8,708 shares of Warby Parker stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $103,451.04. Following the completion of the sale, the chief financial officer now owns 191,104 shares of the company’s stock, valued at approximately $2,270,315.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,084 shares of company stock valued at $1,074,979. 26.91% of the stock is currently owned by company insiders.

Institutional Trading of Warby Parker

Large investors have recently made changes to their positions in the company. Scopia Capital Management LP boosted its holdings in Warby Parker by 781.3% in the third quarter. Scopia Capital Management LP now owns 1,590,744 shares of the company’s stock worth $20,934,000 after acquiring an additional 1,410,243 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Warby Parker in the 1st quarter worth $15,812,000. Jennison Associates LLC acquired a new stake in Warby Parker in the 4th quarter valued at $12,034,000. TimesSquare Capital Management LLC bought a new stake in Warby Parker during the 4th quarter valued at $9,542,000. Finally, Vanguard Group Inc. raised its holdings in Warby Parker by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after buying an additional 607,352 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.