Warby Parker (NYSE:WRBY) Earns Outperform Rating from Telsey Advisory Group

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reiterated by research analysts at Telsey Advisory Group in a report released on Thursday, Marketbeat.com reports. They presently have a $28.00 target price on the stock. Telsey Advisory Group’s price target indicates a potential upside of 13.03% from the company’s current price.

WRBY has been the topic of several other research reports. Morgan Stanley lifted their price objective on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Roth Capital raised shares of Warby Parker to a “strong-buy” rating in a research report on Monday, February 24th. JMP Securities lifted their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a research report on Monday, December 16th. Evercore ISI reissued an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research report on Friday, January 17th. Finally, Citigroup reissued a “sell” rating and issued a $23.00 price target (up previously from $19.00) on shares of Warby Parker in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.43.

Warby Parker Price Performance

Shares of NYSE WRBY opened at $24.77 on Thursday. The stock has a market capitalization of $2.52 billion, a P/E ratio of -91.75 and a beta of 1.90. The company has a 50-day moving average price of $25.62 and a 200-day moving average price of $20.55. Warby Parker has a 1 year low of $11.35 and a 1 year high of $28.68.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $336,206.97. The trade was a 80.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 608,032 shares of company stock valued at $15,188,364 in the last three months. 26.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Several institutional investors have recently added to or reduced their stakes in the business. Durable Capital Partners LP lifted its stake in 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 purchasing an additional 840,797 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in 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 purchasing an additional 89,835 shares during the last quarter. State Street Corp lifted its stake 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 during the last quarter. American Century Companies Inc. lifted its stake in 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 purchasing an additional 842,558 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in 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 purchasing an additional 313,100 shares during the last quarter. Hedge funds and other 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.