Warby Parker Target of Unusually Large Options Trading (NYSE:WRBY)

Warby Parker Inc. (NYSE:WRBY) saw some unusual options trading activity on Tuesday. Traders purchased 5,143 put options on the company. This represents an increase of approximately 341% compared to the typical volume of 1,166 put options.

Warby Parker Trading Down 1.8%

Warby Parker stock opened at $19.62 on Thursday. The firm has a market capitalization of $2.07 billion, a P/E ratio of 1,962.20 and a beta of 2.06. The business has a 50-day moving average of $21.93 and a 200-day moving average of $22.77. Warby Parker has a 1 year low of $13.63 and a 1 year high of $29.73.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $221.68 million for the quarter, compared to the consensus estimate of $224.49 million. Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) EPS. Warby Parker has set its FY 2025 guidance at EPS. Research analysts anticipate that Warby Parker will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on WRBY. Wall Street Zen downgraded shares of Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Cowen reiterated a “buy” rating on shares of Warby Parker in a research report on Friday, August 8th. BTIG Research lowered their price target on shares of Warby Parker from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Robert W. Baird set a $30.00 price objective on Warby Parker and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Finally, Stifel Nicolaus increased their price objective on Warby Parker from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Warby Parker presently has a consensus rating of “Hold” and a consensus price target of $24.53.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 41,084 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 32,733 shares of the company’s stock, valued at approximately $901,139.49. The trade was a 55.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joel E. Cutler sold 35,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the sale, the director owned 19,932 shares in the company, valued at $533,181. The trade was a 63.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 85,000 shares of company stock worth $2,312,661 over the last three months. 18.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new stake in shares of Warby Parker in the 3rd quarter valued at $289,000. NewEdge Advisors LLC increased its holdings in shares of Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares in the last quarter. Shelton Capital Management raised its position in shares of Warby Parker by 100.6% during the third quarter. Shelton Capital Management now owns 32,100 shares of the company’s stock worth $885,000 after purchasing an additional 16,100 shares during the period. Mariner LLC raised its position in shares of Warby Parker by 6.2% during the third quarter. Mariner LLC now owns 25,602 shares of the company’s stock worth $706,000 after purchasing an additional 1,502 shares during the period. Finally, Lombard Odier Asset Management USA Corp lifted its holdings in shares of Warby Parker by 9.1% during the 3rd quarter. Lombard Odier Asset Management USA Corp now owns 18,818 shares of the company’s stock valued at $519,000 after purchasing an additional 1,566 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

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.