Warby Parker (NYSE:WRBY) Trading Down 3.7% – Should You Sell?

Warby Parker Inc. (NYSE:WRBY) traded down 3.7% during mid-day trading on Thursday . The stock traded as low as $21.06 and last traded at $20.99. 78,350 shares traded hands during trading, a decline of 96% from the average session volume of 1,961,487 shares. The stock had previously closed at $21.79.

Analyst Upgrades and Downgrades

WRBY has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 target price (up from $20.00) on shares of Warby Parker in a report on Thursday, May 29th. The Goldman Sachs Group raised their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Stifel Nicolaus raised their target price on shares of Warby Parker from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Roth Capital reissued a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Warby Parker in a research report on Thursday, May 22nd. Finally, Robert W. Baird lifted 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. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.88.

Warby Parker Stock Performance

The firm has a fifty day simple moving average of $19.25 and a 200-day simple moving average of $21.45. The company has a market capitalization of $2.29 billion, a PE ratio of -182.43 and a beta of 2.10.

Insider Activity at Warby Parker

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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 18.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WRBY. Arizona State Retirement System boosted its holdings in shares of Warby Parker by 2.6% in 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 lifted its holdings in shares of Warby Parker by 6.5% in the 4th quarter. Mariner LLC now owns 10,772 shares of the company’s stock worth $261,000 after purchasing an additional 660 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in Warby Parker by 10.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company’s stock worth $224,000 after buying an additional 840 shares during the last quarter. Jones Financial Companies Lllp increased its position in Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock worth $37,000 after buying an additional 1,028 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in shares of Warby Parker during the fourth quarter valued at $25,000. 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.