Warby Parker (NYSE:WRBY) Given New $15.00 Price Target at Stifel Nicolaus

Warby Parker (NYSE:WRBY) had its price objective increased by Stifel Nicolaus from $14.00 to $15.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Loop Capital increased their price target on shares of Warby Parker from $15.00 to $16.00 and gave the stock a hold rating in a research note on Wednesday, July 10th. Telsey Advisory Group reiterated an outperform rating and set a $19.00 target price on shares of Warby Parker in a report on Thursday. Morgan Stanley upped their price target on shares of Warby Parker from $13.00 to $14.00 and gave the company an equal weight rating in a report on Friday, May 10th. Finally, UBS Group boosted their target price on shares of Warby Parker from $13.00 to $15.00 and gave the stock a neutral rating in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $16.25.

Warby Parker Trading Down 6.3 %

Shares of Warby Parker stock traded down $0.88 during trading hours on Friday, hitting $13.16. 1,678,727 shares of the company were exchanged, compared to its average volume of 1,295,653. Warby Parker has a 1 year low of $9.83 and a 1 year high of $17.95. The business has a 50-day moving average of $15.96 and a 200-day moving average of $14.46. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -28.00 and a beta of 1.82.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Warby Parker had a negative net margin of 7.89% and a negative return on equity of 13.19%. The company had revenue of $200.00 million for the quarter, compared to the consensus estimate of $196.25 million. As a group, research analysts anticipate that Warby Parker will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of Warby Parker stock in a transaction on Friday, June 14th. The shares were sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the completion of the sale, the insider now owns 9,444,023 shares of the company’s stock, valued at approximately $147,893,400.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Warby Parker news, CEO Neil Harris Blumenthal sold 76,582 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $16.65, for a total transaction of $1,275,090.30. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $202,747.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of Warby Parker stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $15.66, for a total value of $86,130,000.00. Following the completion of the transaction, the insider now owns 9,444,023 shares in the company, valued at $147,893,400.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,848,537 shares of company stock worth $91,938,722. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Hedge funds have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Warby Parker by 113.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after acquiring an additional 1,315,672 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in Warby Parker by 149.4% in the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after purchasing an additional 1,011,030 shares during the period. Jennison Associates LLC acquired a new stake in Warby Parker in the fourth quarter worth $12,034,000. Vanguard Group Inc. grew its holdings in shares of Warby Parker by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after buying an additional 607,352 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after buying an additional 481,900 shares in the last quarter. 93.24% of the stock is 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.