Warby Parker Inc. (NYSE:WRBY – Get Rating) shares were down 6.7% during trading on Monday after Loop Capital lowered their price target on the stock from $18.00 to $15.00. Loop Capital currently has a hold rating on the stock. Warby Parker traded as low as $12.67 and last traded at $12.88. Approximately 13,856 shares changed hands during trading, a decline of 99% from the average daily volume of 1,970,024 shares. The stock had previously closed at $13.81.
Several other research firms have also commented on WRBY. Robert W. Baird cut their price objective on Warby Parker from $40.00 to $30.00 and set a “na” rating on the stock in a research report on Tuesday, May 17th. Morgan Stanley dropped their target price on Warby Parker from $57.00 to $24.00 in a report on Friday, March 18th. Citigroup dropped their price target on Warby Parker from $41.00 to $29.00 and set a “na” rating on the stock in a report on Tuesday, May 17th. Telsey Advisory Group lowered their price target on shares of Warby Parker to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, May 17th. Finally, Cowen cut their target price on shares of Warby Parker to $23.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.00.
In other news, CEO David Abraham Gilboa sold 5,224 shares of Warby Parker stock in a transaction on Friday, June 10th. The shares were sold at an average price of $14.64, for a total transaction of $76,479.36. Following the completion of the sale, the chief executive officer now directly owns 235 shares of the company’s stock, valued at approximately $3,440.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 5,084 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $14.64, for a total transaction of $74,429.76. Following the transaction, the chief financial officer now directly owns 165,422 shares of the company’s stock, valued at $2,421,778.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,361 shares of company stock worth $245,560. 25.36% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. D1 Capital Partners L.P. increased its stake in shares of Warby Parker by 64.4% in the fourth quarter. D1 Capital Partners L.P. now owns 13,404,023 shares of the company’s stock worth $624,091,000 after purchasing an additional 5,250,941 shares in the last quarter. Durable Capital Partners LP grew its stake in shares of Warby Parker by 42.3% in the 1st quarter. Durable Capital Partners LP now owns 14,808,493 shares of the company’s stock worth $500,675,000 after buying an additional 4,405,581 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Warby Parker by 158.2% in the 4th quarter. Capital Research Global Investors now owns 4,563,269 shares of the company’s stock worth $212,466,000 after buying an additional 2,795,782 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Warby Parker in the 1st quarter worth $93,249,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Warby Parker in the 4th quarter worth $37,778,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.
The company’s fifty day moving average price is $18.44 and its 200-day moving average price is $28.84.
Warby Parker (NYSE:WRBY – Get Rating) last released its earnings results on Monday, May 16th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.29). The firm had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $154.08 million. Warby Parker’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Warby Parker Inc. will post -0.73 earnings per share for the current year.
Warby Parker Company Profile (NYSE:WRBY)
Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.