Warby Parker (NYSE:WRBY) Given New $26.00 Price Target at Telsey Advisory Group

Warby Parker (NYSE:WRBY) had its price objective increased by Telsey Advisory Group from $22.00 to $26.00 in a research report sent to investors on Tuesday, MarketBeat reports. Telsey Advisory Group currently has an outperform rating on the stock.

WRBY has been the subject of a number of other reports. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Friday, August 23rd. Stifel Nicolaus lifted their price objective on shares of Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Piper Sandler lifted their price target on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their price objective for the company from $15.00 to $18.00 in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and an average price target of $18.82.

Warby Parker Trading Down 0.7 %

Shares of Warby Parker stock opened at $23.11 on Tuesday. The business has a 50-day moving average price of $17.37 and a two-hundred day moving average price of $16.14. Warby Parker has a 1-year low of $10.28 and a 1-year high of $23.83. The company has a market cap of $2.35 billion, a P/E ratio of -85.59 and a beta of 1.80.

Insider Transactions at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the transaction, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at $2,467,083.20. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $352,859.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $158,301. The trade was a 69.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,178 shares of company stock valued at $1,339,901 over the last ninety days. 26.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in Warby Parker by 7.9% in the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after acquiring an additional 144,623 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Warby Parker during the 3rd quarter worth approximately $318,000. XTX Topco Ltd raised its holdings in shares of Warby Parker by 71.8% in the 3rd quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock worth $721,000 after purchasing an additional 18,443 shares during the period. State Street Corp raised its holdings in shares of Warby Parker by 3.2% in the 3rd 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 period. Finally, Invenomic Capital Management LP lifted its stake in Warby Parker by 12.0% in the third quarter. Invenomic Capital Management LP now owns 383,877 shares of the company’s stock valued at $6,269,000 after purchasing an additional 41,110 shares during the last quarter. 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.