Warby Parker (NYSE:WRBY) Now Covered by Analysts at Roth Mkm

Roth Mkm initiated coverage on shares of Warby Parker (NYSE:WRBY) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $26.00 price objective on the stock.

A number of other analysts have also weighed in on the stock. BTIG Research raised their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. Citigroup restated a “sell” rating and set a $23.00 target price (up previously from $19.00) on shares of Warby Parker in a research report on Wednesday, February 5th. 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. Morgan Stanley lifted 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. Finally, The Goldman Sachs Group upped their target price on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker currently has an average rating of “Hold” and a consensus target price of $22.21.

Warby Parker Stock Down 2.3 %

Shares of NYSE WRBY opened at $22.73 on Tuesday. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -84.19 and a beta of 1.90. Warby Parker has a 12-month low of $11.35 and a 12-month high of $28.68. The firm’s 50-day simple moving average is $25.62 and its 200 day simple moving average is $20.50.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System lifted its stake in Warby Parker by 2.6% in the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company’s stock valued at $602,000 after acquiring an additional 619 shares in the last quarter. Mariner LLC boosted its holdings in Warby Parker by 6.5% during the fourth quarter. Mariner LLC now owns 10,772 shares of the company’s stock worth $261,000 after purchasing an additional 660 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Warby Parker by 10.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company’s stock worth $224,000 after purchasing an additional 840 shares during the last quarter. Global Retirement Partners LLC bought a new position in Warby Parker in the fourth quarter valued at $25,000. Finally, Jones Financial Companies Lllp increased its stake in Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after buying an additional 1,028 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.