Warby Parker (NYSE:WRBY) Given New $23.00 Price Target at Morgan Stanley

Warby Parker (NYSE:WRBY) had its target price boosted by Morgan Stanley from $17.00 to $23.00 in a research report report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. BTIG Research boosted their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Evercore ISI reissued an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. Telsey Advisory Group upped their price objective on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler raised their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.67.

Warby Parker Trading Up 3.6 %

Shares of WRBY opened at $25.47 on Tuesday. The firm has a market cap of $2.59 billion, a P/E ratio of -94.31 and a beta of 1.88. The stock’s 50 day moving average is $24.20 and its two-hundred day moving average is $18.70. Warby Parker has a 12 month low of $11.35 and a 12 month high of $27.10.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Harris Blumenthal sold 300,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.14, for a total value of $7,542,000.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $306,129.78. This represents a 96.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $335,826.33. Following the transaction, the chief financial officer now directly owns 189,146 shares in the company, valued at approximately $4,276,591.06. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 558,032 shares of company stock worth $13,807,864. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of WRBY. AQR Capital Management LLC acquired a new position in shares of Warby Parker in the second quarter valued at approximately $186,000. Thrivent Financial for Lutherans purchased a new position in Warby Parker in the 3rd quarter valued at $213,000. LVW Advisors LLC increased its stake in Warby Parker by 27.9% in the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after buying an additional 3,500 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Warby Parker during the 3rd quarter worth $318,000. Finally, Perpetual Ltd acquired a new stake in shares of Warby Parker in the 4th quarter worth $488,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.