Short Interest in Warby Parker Inc. (NYSE:WRBY) Drops By 14.1%

Warby Parker Inc. (NYSE:WRBY) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 11,180,000 shares, a decrease of 14.1% from the December 15th total of 13,010,000 shares. Based on an average daily volume of 1,660,000 shares, the short-interest ratio is presently 6.7 days. Currently, 12.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Telsey Advisory Group increased their price objective on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Piper Sandler raised their price target on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. BTIG Research raised their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, JMP Securities raised their price target on Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Warby Parker has a consensus rating of “Moderate Buy” and an average price target of $20.73.

Warby Parker Trading Down 0.2 %

Shares of NYSE WRBY opened at $26.24 on Friday. The stock has a market cap of $2.67 billion, a P/E ratio of -97.20 and a beta of 1.88. Warby Parker has a 12-month low of $11.35 and a 12-month high of $27.10. The business’s fifty day simple moving average is $23.93 and its 200-day simple moving average is $18.47.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $287,986.05. This represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the transaction, the chief financial officer now owns 189,146 shares of the company’s stock, valued at $4,276,591.06. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 558,032 shares of company stock worth $13,807,864 over the last ninety days. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC acquired a new stake in shares of Warby Parker in the second quarter valued at $131,000. Choreo LLC acquired a new stake in shares of Warby Parker in the second quarter valued at $167,000. AQR Capital Management LLC acquired a new stake in Warby Parker in the second quarter valued at $186,000. Thrivent Financial for Lutherans acquired a new stake in Warby Parker in the third quarter valued at $213,000. Finally, LVW Advisors LLC raised its stake in Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after buying an additional 3,500 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.