Short Interest in Warby Parker Inc. (NYSE:WRBY) Decreases By 20.3%

Warby Parker Inc. (NYSE:WRBY) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 10,549,384 shares, a decline of 20.3% from the December 31st total of 13,241,691 shares. Based on an average daily trading volume, of 4,534,016 shares, the short-interest ratio is currently 2.3 days. Currently, 12.2% of the shares of the company are sold short. Currently, 12.2% of the shares of the company are sold short. Based on an average daily trading volume, of 4,534,016 shares, the short-interest ratio is currently 2.3 days.

Warby Parker Trading Up 0.4%

Shares of Warby Parker stock traded up $0.11 on Tuesday, reaching $26.14. 2,072,082 shares of the company were exchanged, compared to its average volume of 3,170,077. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $31.00. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 2,613.60 and a beta of 2.05. The stock has a fifty day moving average price of $25.02 and a 200-day moving average price of $24.13.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) EPS. On average, equities analysts anticipate that Warby Parker will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warby Parker in a report on Monday, December 29th. UBS Group reduced their price target on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Citigroup upgraded shares of Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Stifel Nicolaus boosted their target price on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, December 12th. Finally, Piper Sandler upped their target price on Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.38.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total value of $1,354,000.00. Following the sale, the chief executive officer owned 37,119 shares of the company’s stock, valued at approximately $1,005,182.52. This trade represents a 57.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total value of $518,431.32. Following the transaction, the director owned 20,000 shares of the company’s stock, valued at $520,200. This represents a 49.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 359,424 shares of company stock valued at $9,813,571 in the last quarter. Insiders own 18.24% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Several hedge funds have recently made changes to their positions in WRBY. AQR Capital Management LLC lifted its position in shares of Warby Parker by 101.0% in the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after purchasing an additional 86,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Warby Parker by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock valued at $961,000 after buying an additional 2,297 shares during the period. Goldman Sachs Group Inc. lifted its position in Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after buying an additional 929,073 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Warby Parker during the 1st quarter valued at $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Warby Parker by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after buying an additional 38,395 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

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.