Warby Parker (NYSE:WRBY) Price Target Raised to $20.00

Warby Parker (NYSE:WRBY) had its target price increased by Stifel Nicolaus from $17.00 to $20.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Piper Sandler upped their price target on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. BTIG Research increased their target price 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. The Goldman Sachs Group boosted their price target on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Finally, JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Warby Parker Trading Down 0.8 %

NYSE:WRBY opened at $23.63 on Wednesday. The firm has a fifty day simple moving average of $19.96 and a two-hundred day simple moving average of $17.01. Warby Parker has a 12 month low of $11.35 and a 12 month high of $24.71. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -87.52 and a beta of 1.93.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’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 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 trade represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the transaction, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. This trade represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 108,032 shares of company stock valued at $2,503,303 in the last 90 days. Insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in shares of Warby Parker by 7.9% in the 3rd 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. Y Intercept Hong Kong Ltd bought a new stake in Warby Parker during the third quarter valued at about $318,000. XTX Topco Ltd increased its position in Warby Parker by 71.8% in the third quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock worth $721,000 after buying an additional 18,443 shares in the last quarter. State Street Corp raised its stake in shares of Warby Parker by 3.2% in the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after buying an additional 69,108 shares during the period. Finally, Invenomic Capital Management LP lifted its position in shares of Warby Parker by 12.0% during the 3rd quarter. Invenomic Capital Management LP now owns 383,877 shares of the company’s stock valued at $6,269,000 after buying an additional 41,110 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.