Warby Parker (NYSE:WRBY) Hits New 52-Week Low at $12.97

Warby Parker Inc. (NYSE:WRBYGet Rating) shares hit a new 52-week low during trading on Friday . The stock traded as low as $12.97 and last traded at $13.18, with a volume of 17427 shares trading hands. The stock had previously closed at $13.35.

A number of research firms have recently issued reports on WRBY. Morgan Stanley dropped their price target on Warby Parker from $57.00 to $24.00 in a research note on Friday, March 18th. Stifel Nicolaus began coverage on Warby Parker in a research note on Wednesday, March 30th. They issued a “hold” rating and a $36.00 price target on the stock. Robert W. Baird dropped their price target on Warby Parker from $40.00 to $30.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Citigroup dropped their price target on Warby Parker from $41.00 to $29.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Finally, Cowen dropped their price target on Warby Parker to $23.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.20.

The business has a 50 day moving average price of $20.32 and a two-hundred day moving average price of $30.55.

Warby Parker (NYSE:WRBYGet Rating) last posted its quarterly earnings results on Monday, May 16th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.29). The company had revenue of $153.20 million during the quarter, compared to the consensus estimate of $154.08 million. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Warby Parker Inc. will post -0.73 earnings per share for the current fiscal year.

In other news, CEO David Abraham Gilboa sold 5,224 shares of the business’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $14.64, for a total value of $76,479.36. Following the sale, the chief executive officer now directly owns 235 shares in the company, valued at approximately $3,440.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Teresa Briggs sold 19,325 shares of the business’s stock in a transaction that occurred on Monday, March 21st. The stock was sold at an average price of $30.01, for a total value of $579,943.25. The disclosure for this sale can be found here. Insiders have sold 36,686 shares of company stock valued at $825,504 over the last ninety days. 25.36% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Warby Parker by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 51,149 shares of the company’s stock worth $1,730,000 after buying an additional 1,251 shares during the last quarter. Trustcore Financial Services LLC purchased a new stake in shares of Warby Parker in the first quarter valued at $45,000. Wolff Wiese Magana LLC purchased a new stake in shares of Warby Parker in the fourth quarter valued at $67,000. Delta Asset Management LLC TN purchased a new stake in shares of Warby Parker in the fourth quarter valued at $69,000. Finally, Evoke Wealth LLC purchased a new stake in shares of Warby Parker in the fourth quarter valued at $88,000. 98.59% of the stock is currently owned by hedge funds and other institutional investors.

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.

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