Warby Parker (NYSE:WRBY) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Warby Parker (NYSE:WRBY) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on WRBY. Citigroup reiterated a “sell” rating and issued a $23.00 price target (up from $19.00) on shares of Warby Parker in a report on Wednesday, February 5th. Evercore ISI reaffirmed an “in-line” rating and issued a $23.00 price objective on shares of Warby Parker in a research report on Friday, January 17th. Roth Mkm assumed coverage on shares of Warby Parker in a research report on Tuesday. They set a “neutral” rating and a $26.00 target price on the stock. Piper Sandler raised their price target on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, BTIG Research boosted their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and a consensus target price of $22.21.

Warby Parker Trading Up 4.1 %

Shares of Warby Parker stock opened at $23.69 on Monday. The company has a 50-day moving average of $25.61 and a two-hundred day moving average of $20.52. The stock has a market cap of $2.41 billion, a PE ratio of -87.74 and a beta of 1.90. Warby Parker has a 12-month low of $11.35 and a 12-month high of $28.68.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $287,986.05. This represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the transaction, the chief financial officer now owns 182,130 shares in the company, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 608,032 shares of company stock valued at $15,188,364 over the last three months. 26.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of the business. Durable Capital Partners LP boosted its stake in Warby Parker by 10.3% in the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company’s stock valued at $218,322,000 after acquiring an additional 840,797 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company’s stock worth $64,047,000 after purchasing an additional 89,835 shares during the last quarter. State Street Corp boosted its position in Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after purchasing an additional 69,108 shares during the period. American Century Companies Inc. grew its stake in Warby Parker by 64.7% during the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock worth $51,916,000 after buying an additional 842,558 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Warby Parker by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company’s stock worth $48,478,000 after buying an additional 313,100 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.