Warby Parker (NYSE:WRBY) Reaches New 12-Month Low at $9.84

Warby Parker Inc. (NYSE:WRBY – Get Rating) reached a new 52-week low during trading on Friday . The stock traded as low as $9.84 and last traded at $9.91, with a volume of 296765 shares trading hands. The stock had previously closed at $10.19.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WRBY shares. Citigroup lowered shares of Warby Parker from a “buy” rating to a “neutral” rating and reduced their price target for the company from $26.00 to $13.00 in a research report on Wednesday, March 1st. BTIG Research initiated coverage on shares of Warby Parker in a report on Monday, February 6th. They issued a “neutral” rating for the company. Cowen reduced their target price on shares of Warby Parker from $23.00 to $17.00 in a report on Wednesday, March 1st. Wolfe Research initiated coverage on shares of Warby Parker in a report on Thursday, December 15th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Robert W. Baird reduced their target price on shares of Warby Parker from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.50.

Warby Parker Trading Down 4.9 %

The stock has a market capitalization of $932.86 million, a P/E ratio of -9.99 and a beta of 1.98. The business has a 50-day moving average price of $14.37 and a 200 day moving average price of $14.70.

Insider Activity

In other news, major shareholder Durable Capital Partners Lp sold 566,382 shares of the stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $17.27, for a total transaction of $9,781,417.14. Following the completion of the transaction, the insider now directly owns 11,045,421 shares in the company, valued at approximately $190,754,420.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Teresa Briggs sold 18,900 shares of the firm’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $12.05, for a total value of $227,745.00. Following the completion of the sale, the director now directly owns 19,246 shares in the company, valued at $231,914.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Durable Capital Partners Lp sold 566,382 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $17.27, for a total value of $9,781,417.14. Following the completion of the sale, the insider now owns 11,045,421 shares of the company’s stock, valued at $190,754,420.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 614,799 shares of company stock worth $10,509,992. 25.36% of the stock is currently owned by insiders.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently bought and sold shares of WRBY. Point72 Middle East FZE purchased a new position in shares of Warby Parker during the fourth quarter valued at $37,000. CI Private Wealth LLC purchased a new position in shares of Warby Parker during the fourth quarter valued at $1,614,000. Lazard Asset Management LLC increased its stake in shares of Warby Parker by 4.4% during the fourth quarter. Lazard Asset Management LLC now owns 194,782 shares of the company’s stock valued at $2,627,000 after buying an additional 8,174 shares during the period. Virtu Financial LLC purchased a new position in Warby Parker in the fourth quarter valued at about $243,000. Finally, Chimera Capital Management LLC purchased a new position in Warby Parker in the fourth quarter valued at about $1,651,000.

About Warby Parker

(Get Rating)

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.