Warby Parker (NYSE:WRBY) Price Target Cut to $22.00 by Analysts at Telsey Advisory Group

Warby Parker (NYSE:WRBY) had its price target decreased by Telsey Advisory Group from $30.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. Telsey Advisory Group currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on WRBY. Roth Mkm assumed coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They set a “neutral” rating and a $26.00 price target for the company. Piper Sandler lowered their target price on shares of Warby Parker from $30.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, April 11th. JMP Securities cut their price target on Warby Parker from $30.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Monday, April 14th. Morgan Stanley lifted their price objective on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Citigroup raised Warby Parker from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $17.00 in a report on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.21.

Warby Parker Trading Down 4.8 %

WRBY opened at $15.83 on Friday. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -58.63 and a beta of 2.01. The stock has a fifty day simple moving average of $17.30 and a two-hundred day simple moving average of $21.50. Warby Parker has a 12-month low of $12.46 and a 12-month high of $28.68.

Insider Activity

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the sale, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. The trade was a 5.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $657,783.84. Following the sale, the chief executive officer now directly owns 23,961 shares of the company’s stock, valued at $563,562.72. The trade was a 53.86 % decrease in their position. The disclosure for this sale can be found here. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRBY. Arizona State Retirement System grew its position in shares of Warby Parker by 2.6% during the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company’s stock valued at $602,000 after acquiring an additional 619 shares during the period. Mariner LLC grew its holdings in Warby Parker by 6.5% during the fourth quarter. Mariner LLC now owns 10,772 shares of the company’s stock valued at $261,000 after purchasing an additional 660 shares during the period. Summit Investment Advisors Inc. increased its position in Warby Parker by 10.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company’s stock worth $224,000 after buying an additional 840 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Warby Parker in the fourth quarter worth about $25,000. Finally, Jones Financial Companies Lllp lifted 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 buying an additional 1,028 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other 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.