Warby Parker (NYSE:WRBY) Earns “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $28.00 price target on the stock.

A number of other analysts have also weighed in on the stock. Citigroup restated a “sell” rating and set a $23.00 target price (up from $19.00) on shares of Warby Parker in a research note on Wednesday, February 5th. Evercore ISI reiterated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. The Goldman Sachs Group increased their price target on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. 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, Morgan Stanley increased their price target on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

Warby Parker Trading Down 0.7 %

Shares of NYSE:WRBY opened at $25.33 on Thursday. The firm’s 50-day moving average is $25.66 and its two-hundred day moving average is $20.22. Warby Parker has a 1 year low of $11.35 and a 1 year high of $28.68.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $275,321.97. The trade was a 74.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction on 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 owns 189,146 shares of the company’s stock, valued at approximately $4,276,591.06. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 608,032 shares of company stock worth $15,188,364. 26.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in Warby Parker during the 4th quarter worth $25,000. NewEdge Advisors LLC boosted its position in Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock worth $29,000 after acquiring an additional 1,050 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after buying an additional 1,028 shares during the period. Comerica Bank lifted its holdings in shares of Warby Parker by 153.1% in the fourth quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after buying an additional 1,386 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Warby Parker in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.