Roth Mkm Begins Coverage on Warby Parker (NYSE:WRBY)

Stock analysts at Roth Mkm assumed coverage on shares of Warby Parker (NYSE:WRBY) in a report released on Tuesday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $26.00 price target on the stock. Roth Mkm’s target price indicates a potential upside of 9.75% from the company’s current price.

A number of other research firms also recently weighed in on WRBY. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. JMP Securities increased their price objective on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Citigroup restated a “sell” rating and issued a $23.00 price objective (up from $19.00) on shares of Warby Parker in a report on Wednesday, February 5th. The Goldman Sachs Group increased their price objective on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Evercore ISI restated an “in-line” rating and issued a $23.00 price objective on shares of Warby Parker in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.21.

Warby Parker Stock Performance

Shares of NYSE:WRBY opened at $23.69 on Tuesday. The company has a fifty day moving average of $25.61 and a 200-day moving average of $20.52. The company has a market capitalization of $2.41 billion, a PE ratio of -87.74 and a beta of 1.90. Warby Parker has a 52-week low of $11.35 and a 52-week high of $28.68.

Insider Transactions at Warby Parker

In other news, 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 transaction of $335,826.33. Following the transaction, the chief financial officer now owns 189,146 shares of the company’s stock, valued at $4,276,591.06. This represents a 7.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.65, for a total transaction 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 trade represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 608,032 shares of company stock valued at $15,188,364 in the last 90 days. 26.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

Several large investors have recently added to or reduced their stakes in WRBY. Global Retirement Partners LLC bought a new position in Warby Parker in the 4th quarter valued at about $25,000. NewEdge Advisors LLC lifted its position in Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,050 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after acquiring an additional 1,028 shares in the last quarter. Comerica Bank lifted its position in Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Warby Parker in the 4th quarter valued at about $69,000. 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.