Warby Parker’s (WRBY) In-Line Rating Reiterated at Evercore ISI

Evercore ISI reissued their in-line rating on shares of Warby Parker (NYSE:WRBY) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has a $23.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. Telsey Advisory Group boosted their price objective on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. BTIG Research raised their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group increased their price target on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Stifel Nicolaus raised their target price on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird increased their price target on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.92.

Warby Parker Stock Performance

NYSE:WRBY opened at $24.57 on Friday. The company has a market cap of $2.50 billion, a PE ratio of -90.98 and a beta of 1.88. Warby Parker has a 52-week low of $11.35 and a 52-week high of $27.10. The stock has a 50-day simple moving average of $24.03 and a 200 day simple moving average of $18.57.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $287,986.05. The trade was a 80.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Clive Miller sold 7,016 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the sale, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 558,032 shares of company stock worth $13,807,864 in the last 90 days. 26.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Hedge funds have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. boosted its stake in Warby Parker by 3.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after buying an additional 78,295 shares during the period. State Street Corp raised its holdings in Warby Parker by 3.2% during the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after purchasing an additional 69,108 shares in the last quarter. Geode Capital Management LLC raised its holdings in Warby Parker by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after purchasing an additional 144,623 shares in the last quarter. Jennison Associates LLC raised its position in Warby Parker by 13.6% in the 3rd quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock valued at $31,666,000 after purchasing an additional 232,530 shares during the last quarter. Finally, TimesSquare Capital Management LLC raised its position in Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after purchasing an additional 211,050 shares during the last quarter. 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.