Telsey Advisory Group Reaffirms Outperform Rating for Warby Parker (NYSE:WRBY)

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reiterated by investment analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They presently have a $28.00 price objective on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 13.03% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. The Goldman Sachs Group boosted 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. Evercore ISI reissued an “in-line” rating and issued a $23.00 target price on shares of Warby Parker in a report on Friday, January 17th. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. JMP Securities boosted their target price on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Finally, Citigroup reissued 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.43.

Warby Parker Trading Up 1.9 %

Shares of NYSE WRBY opened at $24.77 on Thursday. Warby Parker has a twelve month low of $11.35 and a twelve month high of $28.68. The stock has a 50 day moving average of $25.62 and a two-hundred day moving average of $20.55. The stock has a market cap of $2.52 billion, a P/E ratio of -91.75 and a beta of 1.90.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 36,163 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $817,645.43. Following the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $275,321.97. This represents a 74.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 7,016 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the completion of the sale, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. This trade represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 608,032 shares of company stock valued at $15,188,364 over the last quarter. Company insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Several large investors have recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in Warby Parker by 2.6% in the fourth quarter. Arizona State Retirement System now owns 24,881 shares of the company’s stock valued at $602,000 after purchasing an additional 619 shares during the last quarter. Mariner LLC grew its holdings in Warby Parker by 6.5% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company’s stock valued at $261,000 after purchasing an additional 660 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Warby Parker by 10.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company’s stock valued at $224,000 after purchasing an additional 840 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Warby Parker in the fourth quarter valued at $25,000. Finally, Jones Financial Companies Lllp grew its holdings in Warby Parker by 205.6% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

About Warby Parker

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.