Roth Mkm Initiates Coverage on Warby Parker (NYSE:WRBY)

Roth Mkm initiated coverage on shares of Warby Parker (NYSE:WRBY) in a research note published on Tuesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $26.00 price objective on the stock.

WRBY has been the topic of a number of other research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $28.00 price objective on shares of Warby Parker in a research note on Thursday, February 20th. Citigroup reaffirmed a “sell” rating and issued a $23.00 target price (up previously from $19.00) on shares of Warby Parker in a report on Wednesday, February 5th. The Goldman Sachs Group upped their price objective on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. JMP Securities upped their target price on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a research report on Monday, December 16th. Finally, Piper Sandler upped their price objective on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. One investment 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 company’s stock. According to MarketBeat, Warby Parker has an average rating of “Moderate Buy” and a consensus target price of $22.21.

Warby Parker Stock Performance

WRBY opened at $24.31 on Tuesday. The firm has a 50 day moving average price of $25.62 and a 200 day moving average price of $20.55. The company has a market cap of $2.47 billion, a PE ratio of -90.02 and a beta of 1.90. Warby Parker has a 1 year low of $11.35 and a 1 year high of $28.68.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 300,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total value of $7,542,000.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $306,129.78. This trade represents a 96.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 189,146 shares in the company, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 608,032 shares of company stock worth $15,188,364. Corporate insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in Warby Parker in the fourth quarter valued at about $25,000. NewEdge Advisors LLC grew its position in Warby Parker by 700.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,050 shares during the period. Jones Financial Companies Lllp increased its holdings in Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after purchasing an additional 1,028 shares in the last quarter. Comerica Bank increased its stake in shares of Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after buying an additional 1,386 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Warby Parker during the fourth quarter worth $69,000. 93.24% of the stock is currently 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.