Warby Parker’s (WRBY) “Outperform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Warby Parker (NYSE:WRBY) in a report issued on Thursday morning,Benzinga reports. They currently have a $28.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on WRBY. The Goldman Sachs Group boosted their price target on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Stifel Nicolaus boosted their price objective on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price objective on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, BTIG Research boosted their price objective on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.92.

Warby Parker Stock Down 5.0 %

Warby Parker stock opened at $24.03 on Thursday. The business has a 50-day simple moving average of $25.67 and a two-hundred day simple moving average of $20.32. The company has a market cap of $2.44 billion, a P/E ratio of -89.00 and a beta of 1.90. Warby Parker has a 52-week low of $11.35 and a 52-week high of $28.68.

Insiders Place Their Bets

In other news, CFO Steven Clive Miller sold 7,016 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the sale, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at $4,343,800.50. This represents a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total value of $1,380,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. This trade represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 608,032 shares of company stock worth $15,188,364 in the last three months. 26.55% of the stock is owned by company insiders.

Institutional Trading of Warby Parker

Several hedge funds have recently modified their holdings of the company. Durable Capital Partners LP raised its holdings in Warby Parker by 10.3% during the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company’s stock valued at $218,322,000 after buying an additional 840,797 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Warby Parker by 3.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company’s stock valued at $64,047,000 after buying an additional 89,835 shares during the period. State Street Corp raised its holdings 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 buying an additional 69,108 shares during the period. American Century Companies Inc. raised its holdings 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 valued at $51,916,000 after buying an additional 842,558 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Warby Parker by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company’s stock valued at $48,478,000 after buying an additional 313,100 shares during the period. 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.