Warby Parker Inc. (NYSE:WRBY) Sees Significant Decline in Short Interest

Warby Parker Inc. (NYSE:WRBY) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 9,696,985 shares, a drop of 13.6% from the February 12th total of 11,228,952 shares. Currently, 11.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,466,751 shares, the short-interest ratio is currently 2.2 days. Based on an average daily trading volume, of 4,466,751 shares, the short-interest ratio is currently 2.2 days. Currently, 11.1% of the shares of the stock are sold short.

Warby Parker Trading Up 2.0%

Warby Parker stock opened at $24.06 on Thursday. Warby Parker has a 1-year low of $13.63 and a 1-year high of $31.00. The company has a fifty day simple moving average of $25.26 and a 200 day simple moving average of $23.91. The company has a market cap of $2.57 billion, a P/E ratio of 1,203.50 and a beta of 2.05.

Insider Activity at Warby Parker

In other news, Director Bradley E. Singer sold 15,793 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total value of $434,781.29. Following the completion of the sale, the director directly owned 16,026 shares in the company, valued at approximately $441,195.78. This trade represents a 49.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 150,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total value of $3,763,500.00. Following the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at approximately $931,315.71. This represents a 80.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 216,453 shares of company stock worth $5,572,075 over the last three months. 18.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Warby Parker in the 4th quarter worth about $768,000. Virtu Financial LLC acquired a new position in shares of Warby Parker during the 4th quarter worth approximately $785,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Warby Parker during the fourth quarter worth approximately $46,484,000. NewEdge Advisors LLC increased its holdings in shares of Warby Parker by 638.9% during the fourth quarter. NewEdge Advisors LLC now owns 17,365 shares of the company’s stock worth $378,000 after purchasing an additional 15,015 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Warby Parker in the fourth quarter valued at approximately $839,000. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a report on Friday, February 20th. Robert W. Baird set a $35.00 price objective on Warby Parker in a research note on Wednesday, December 17th. Stifel Nicolaus boosted their target price on Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, December 12th. Citigroup increased their price target on Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Wednesday, December 10th. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.