Warby Parker (NYSE:WRBY) Price Target Raised to $28.00 at JMP Securities

Warby Parker (NYSE:WRBY) had its target price increased by JMP Securities from $23.00 to $28.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

Other research analysts also recently issued reports about the company. Stifel Nicolaus boosted their price target on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Piper Sandler upped their target price on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. BTIG Research raised their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird upped their price objective on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group raised their target price on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.73.

Warby Parker Price Performance

Shares of NYSE WRBY opened at $24.20 on Monday. The company has a 50-day simple moving average of $20.11 and a 200-day simple moving average of $17.05. The company has a market cap of $2.46 billion, a PE ratio of -89.63 and a beta of 1.93. Warby Parker has a 12 month low of $11.35 and a 12 month high of $24.71.

Insiders Place Their Bets

In related news, CFO Steven Clive Miller sold 14,853 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $335,826.33. Following the sale, the chief financial officer now directly owns 189,146 shares in the company, valued at approximately $4,276,591.06. This trade represents a 7.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $287,986.05. This represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,032 shares of company stock worth $2,503,303 over the last ninety days. 26.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. First Eagle Investment Management LLC purchased a new stake in Warby Parker during the 2nd quarter worth $131,000. Choreo LLC acquired a new stake in shares of Warby Parker during the second quarter valued at about $167,000. AQR Capital Management LLC purchased a new stake in shares of Warby Parker during the second quarter worth about $186,000. Thrivent Financial for Lutherans acquired a new position in shares of Warby Parker in the third quarter worth about $213,000. Finally, LVW Advisors LLC boosted its holdings in Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares during the last quarter. 93.24% of the stock is 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.