Warby Parker (NYSE:WRBY) Sets New 12-Month High – Here’s What Happened

Shares of Warby Parker Inc. (NYSE:WRBY) reached a new 52-week high during trading on Wednesday. The company traded as high as $31.58 and last traded at $31.51, with a volume of 1,424,522 shares trading hands. The stock had previously closed at $29.90.

More Warby Parker News

Investors following WRBY have been watching these news items:

• Positive Sentiment: Warby Parker opened preorders for its first intelligent eyewear collection, expanding beyond traditional glasses into a growing smart-glasses market. The Google and Samsung collaboration could help the company compete in the category. Article: Warby Parker Opens Preorders for First Intelligent Eyewear Collection
• Neutral Sentiment: Coverage of the new glasses highlights privacy concerns as a potential hurdle for smart eyewear adoption, tempering the growth opportunity. Article: Warby Parker bets on Google AI glasses for growth, but privacy fears still loom
• Negative Sentiment: WRBY shares weakened as the preorder launch arrived, suggesting investors may be cautious about the product’s prospects. Separately, CEO Neil Blumenthal sold 73,133 shares—about 67% of his position—for roughly $2.2 million. The sale was made under a pre-arranged Rule 10b5-1 plan, which can temper its significance but does not eliminate the potential concern for investors. Article: Warby Parker falls as AI eyewear orders open Article: CEO sells Warby Parker stock

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WRBY. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a report on Thursday, September 17th. Deutsche Bank set a $29.00 price target on shares of Warby Parker in a report on Thursday, September 17th. The Goldman Sachs Group reissued a “buy” rating and issued a $32.00 price target on shares of Warby Parker in a report on Friday, November 6th. Citizens Jmp boosted their price target on shares of Warby Parker from $29.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, November 6th. Finally, Weiss Ratings cut shares of Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.42.

Warby Parker Price Performance

The stock has a market capitalization of $2.91 billion, a PE ratio of 445.51, a P/E/G ratio of 9.87 and a beta of 1.95. The firm’s 50 day simple moving average is $25.30 and its 200 day simple moving average is $25.17.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Warby Parker had a net margin of 0.80% and a return on equity of 3.36%. The business had revenue of $244.74 million during the quarter, compared to analysts’ expectations of $244.92 million. During the same period last year, the company posted $0.05 EPS. Warby Parker’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts expect that Warby Parker Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Blumenthal sold 73,133 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $30.13, for a total value of $2,203,497.29. Following the completion of the sale, the chief executive officer directly owned 36,020 shares of the company’s stock, valued at $1,085,282.60. The trade was a 67.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. First Trust Advisors LP grew its holdings in shares of Warby Parker by 133.4% in the third quarter. First Trust Advisors LP now owns 395,933 shares of the company’s stock worth $10,999,000 after purchasing an additional 226,304 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in Warby Parker during the 3rd quarter valued at $64,000. Landscape Capital Management L.L.C. raised its holdings in Warby Parker by 224.8% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 305,024 shares of the company’s stock valued at $8,474,000 after buying an additional 211,123 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Warby Parker by 96.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 679,808 shares of the company’s stock valued at $17,750,000 after buying an additional 333,938 shares during the last quarter. Finally, Cibc World Market Inc. raised its holdings in Warby Parker by 9.7% during the 3rd quarter. Cibc World Market Inc. now owns 75,070 shares of the company’s stock valued at $2,085,000 after buying an additional 6,643 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About Warby Parker

Warby Parker Inc. is an eyewear company that sells prescription glasses, sunglasses, and contact lenses through its website and retail stores. It also offers vision-related services, including eye exams at select locations. Founded in 2010, the company helped popularize a direct-to-consumer model for eyewear and has since expanded its network of stores. Warby Parker serves customers primarily in the United States and Canada. The company was co-founded by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider.