Warby Parker (NYSE:WRBY) Price Target Raised to $20.00

Warby Parker (NYSE:WRBY) had its price objective increased by The Goldman Sachs Group from $18.00 to $20.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages also recently issued reports on WRBY. Citigroup raised shares of Warby Parker from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $17.00 in a research note on Wednesday, April 30th. Loop Capital upgraded Warby Parker from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a report on Thursday, April 17th. Evercore ISI reiterated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a report on Friday, January 17th. UBS Group boosted their price target on Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, Stifel Nicolaus lowered their price target on Warby Parker from $25.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and an average target price of $22.21.

Warby Parker Stock Down 4.8%

Shares of Warby Parker stock opened at $15.83 on Friday. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -58.63 and a beta of 2.01. The business has a 50-day moving average price of $17.30 and a 200-day moving average price of $21.56. Warby Parker has a twelve month low of $12.46 and a twelve month high of $28.68.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $657,783.84. Following the sale, the chief executive officer now directly owns 23,961 shares in the company, valued at $563,562.72. This trade represents a 53.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Clive Miller sold 11,684 shares of Warby Parker stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the transaction, the chief financial officer now owns 204,727 shares in the company, valued at approximately $4,815,179.04. This represents a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Durable Capital Partners LP increased its stake 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 period. Vaughan Nelson Investment Management L.P. increased its stake 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 period. Jennison Associates LLC increased its stake 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 period. American Century Companies Inc. increased its stake 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 period. Finally, Renaissance Technologies LLC increased its stake 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 period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.