Warby Parker’s (WRBY) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research note published on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $28.00 target price on the stock.

Several other equities analysts have also weighed in on WRBY. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. BTIG Research boosted their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley boosted their price objective on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group raised their target price on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Roth Mkm began coverage on Warby Parker in a report on Tuesday. They set a “neutral” rating and a $26.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.21.

Warby Parker Stock Up 2.3 %

WRBY stock opened at $24.31 on Thursday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -90.02 and a beta of 1.90. The firm has a 50 day moving average of $25.62 and a two-hundred day moving average of $20.55. Warby Parker has a 12 month low of $11.35 and a 12 month high of $28.68.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $336,206.97. This represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Steven Clive Miller sold 14,853 shares of the business’s stock in a transaction dated 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 owns 189,146 shares of the company’s stock, valued at $4,276,591.06. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 608,032 shares of company stock worth $15,188,364 in the last three months. Insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Warby Parker during the 4th quarter worth $25,000. NewEdge Advisors LLC boosted its holdings in shares of 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 buying an additional 1,050 shares during the period. Jones Financial Companies Lllp increased its position in shares of Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock worth $37,000 after acquiring an additional 1,028 shares in the last quarter. Comerica Bank raised its holdings in shares of Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company’s stock worth $55,000 after acquiring 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. Institutional investors own 93.24% of the company’s stock.

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.