Telsey Advisory Group Boosts Warby Parker (NYSE:WRBY) Price Target to $26.00

Warby Parker (NYSE:WRBY) had its price objective lifted by Telsey Advisory Group from $22.00 to $26.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on WRBY. Piper Sandler lifted their price objective on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Stifel Nicolaus upped their target price on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $18.00 in a report on Monday, October 21st. Robert W. Baird increased their price objective on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.82.

Warby Parker Stock Performance

NYSE WRBY opened at $23.11 on Tuesday. Warby Parker has a twelve month low of $10.28 and a twelve month high of $23.83. The stock has a market cap of $2.35 billion, a PE ratio of -85.59 and a beta of 1.80. The firm has a 50-day simple moving average of $17.37 and a 200 day simple moving average of $16.14.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $13.89, for a total value of $694,500.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $169,138.53. This represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at $2,467,083.20. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,178 shares of company stock valued at $1,339,901 over the last quarter. 26.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Warby Parker by 610.3% during the second quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock valued at $1,471,000 after acquiring an additional 78,702 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Warby Parker by 113.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after purchasing an additional 1,315,672 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Warby Parker during the 2nd quarter worth about $1,465,000. Russell Investments Group Ltd. grew its position in shares of Warby Parker by 37.1% in the 1st quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock valued at $3,067,000 after buying an additional 61,004 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its stake in shares of Warby Parker by 43.9% in the second quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock valued at $12,952,000 after buying an additional 246,011 shares during the period. 93.24% of the stock is currently owned by institutional investors.

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.