Telsey Advisory Group Lowers Warby Parker (NYSE:WRBY) Price Target to $22.00

Warby Parker (NYSE:WRBY) had its target price trimmed by Telsey Advisory Group from $30.00 to $22.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on WRBY. The Goldman Sachs Group cut their target price on Warby Parker from $29.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley increased their target price on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Roth Capital raised Warby Parker to a “strong-buy” rating in a research note on Monday, February 24th. Evercore ISI reissued an “in-line” rating and set a $23.00 target price on shares of Warby Parker in a research note on Friday, January 17th. Finally, Stifel Nicolaus lowered their target price on Warby Parker from $25.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.21.

Warby Parker Stock Down 4.8%

WRBY opened at $15.83 on Friday. The business has a 50 day moving average price of $17.30 and a two-hundred day moving average price of $21.56. The company has a market cap of $1.65 billion, a PE ratio of -58.63 and a beta of 2.01. Warby Parker has a 52 week low of $12.46 and a 52 week high of $28.68.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,967 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $657,783.84. Following the transaction, the chief executive officer now directly owns 23,961 shares of the company’s stock, valued at $563,562.72. This trade represents a 53.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 11,684 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the completion of the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. This trade represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Durable Capital Partners LP increased its position in shares of Warby Parker by 10.3% during the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company’s stock worth $218,322,000 after acquiring an additional 840,797 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Warby Parker by 3.5% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company’s stock worth $64,047,000 after acquiring an additional 89,835 shares during the last quarter. Jennison Associates LLC increased its position in shares of Warby Parker by 23.7% during the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company’s stock worth $39,635,000 after acquiring an additional 416,797 shares during the last quarter. American Century Companies Inc. increased its position in shares of Warby Parker by 64.7% during the fourth quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock worth $51,916,000 after acquiring an additional 842,558 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Warby Parker by 18.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company’s stock worth $48,478,000 after acquiring an additional 313,100 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.