Telsey Advisory Group Reiterates Outperform Rating for Warby Parker (NYSE:WRBY)

Telsey Advisory Group reaffirmed their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research note published on Thursday morning, Marketbeat reports. They currently have a $28.00 price objective on the stock.

A number of other research analysts have also recently commented on the company. Morgan Stanley upped their price target on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their price target on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Roth Mkm initiated coverage on Warby Parker in a research report on Tuesday, February 25th. They set a “neutral” rating and a $26.00 price target on the stock. Stifel Nicolaus upped their price target on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, JMP Securities upped their price target on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.43.

Warby Parker Price Performance

Shares of NYSE WRBY opened at $24.77 on Thursday. Warby Parker has a one year low of $11.35 and a one year high of $28.68. The business’s fifty day moving average price is $25.61 and its 200-day moving average price is $20.68. The stock has a market capitalization of $2.52 billion, a PE ratio of -91.75 and a beta of 1.90.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $287,986.05. This represents a 80.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $335,826.33. Following the transaction, the chief financial officer now owns 189,146 shares in the company, valued at $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 608,032 shares of company stock worth $15,188,364 in the last ninety days. 26.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warby Parker

Institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Warby Parker during the 4th quarter valued at about $25,000. NewEdge Advisors LLC increased its position in shares of Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after purchasing an additional 1,028 shares during the last quarter. Comerica Bank increased its position in shares of Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after purchasing an additional 1,386 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in shares of Warby Parker during the 4th quarter valued at about $69,000. 93.24% of the stock is currently owned by institutional investors.

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.