Stock Traders Purchase High Volume of Warby Parker Call Options (NYSE:WRBY)

by · The Cerbat Gem

Warby Parker Inc. (NYSE:WRBY – Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders bought 50,003 call options on the stock. This is an increase of approximately 3,467% compared to the typical daily volume of 1,402 call options.

Analyst Ratings Changes

Several research analysts have recently commented on WRBY shares. BTIG Research lowered their price target on Warby Parker from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. UBS Group lowered their target price on Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday, December 1st. The Goldman Sachs Group raised their price objective on shares of Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Wall Street Zen cut shares of Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $24.53.

Read Our Latest Research Report on Warby Parker

Warby Parker Stock Up 15.6%

Warby Parker stock traded up $2.93 during midday trading on Monday, reaching $21.70. The company’s stock had a trading volume of 4,634,731 shares, compared to its average volume of 2,232,342. The company has a market cap of $2.29 billion, a P/E ratio of 2,165.40 and a beta of 2.06. The business has a 50-day simple moving average of $20.65 and a 200-day simple moving average of $22.83. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $29.73.

Warby Parker (NYSE:WRBY – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $221.68 million during the quarter, compared to analysts’ expectations of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. As a group, equities analysts forecast that Warby Parker will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 41,084 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $27.53, for a total value of $1,131,042.52. Following the completion of the transaction, the chief executive officer directly owned 32,733 shares in the company, valued at approximately $901,139.49. This represents a 55.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 50,000 shares of company stock valued at $1,376,411 in the last 90 days. Corporate insiders own 18.24% of the company’s stock.

Institutional Trading of Warby Parker

Several institutional investors have recently modified their holdings of WRBY. Vanguard Group Inc. grew its position in shares of Warby Parker by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock valued at $294,155,000 after buying an additional 327,830 shares during the last quarter. Durable Capital Partners LP boosted its stake in Warby Parker by 13.2% in the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company’s stock valued at $186,172,000 after acquiring an additional 1,194,558 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Warby Parker by 40.9% during the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after purchasing an additional 2,120,768 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Warby Parker by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock worth $57,133,000 after purchasing an additional 884,035 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Warby Parker by 14.6% during the first quarter. American Century Companies Inc. now owns 2,456,965 shares of the company’s stock worth $44,790,000 after purchasing an additional 312,543 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

(Get Free Report)

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.

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