Stifel Nicolaus Lowers Warby Parker (NYSE:WRBY) Price Target to $18.00

Warby Parker (NYSE:WRBY) had its price target reduced by equities research analysts at Stifel Nicolaus from $25.00 to $18.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 21.42% from the company’s previous close.

Other analysts also recently issued reports about the stock. Roth Mkm began coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They issued a “neutral” rating and a $26.00 price objective on the stock. Morgan Stanley boosted their price objective on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Robert W. Baird increased their price objective on Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Roth Capital raised Warby Parker to a “strong-buy” rating in a research note on Monday, February 24th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $28.00 price target on shares of Warby Parker in a research note on Thursday, February 27th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and an average target price of $23.14.

Warby Parker Price Performance

Shares of WRBY opened at $14.83 on Thursday. Warby Parker has a 12 month low of $11.66 and a 12 month high of $28.68. The stock has a fifty day moving average price of $21.14 and a 200 day moving average price of $21.62. The company has a market cap of $1.54 billion, a P/E ratio of -54.91 and a beta of 2.00.

Insider Buying and Selling

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now owns 204,727 shares of the company’s stock, valued at approximately $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $657,783.84. Following the sale, the chief executive officer now owns 23,961 shares of the company’s stock, valued at $563,562.72. This trade represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,651 shares of company stock worth $2,313,092 in the last ninety days. 26.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. increased its position in shares of Warby Parker by 44,515.4% in the first quarter. NBC Securities Inc. now owns 11,600 shares of the company’s stock worth $211,000 after acquiring an additional 11,574 shares in the last quarter. Rhumbline Advisers boosted its stake in Warby Parker by 5.4% in the 1st quarter. Rhumbline Advisers now owns 130,612 shares of the company’s stock worth $2,381,000 after purchasing an additional 6,697 shares during the period. GAMMA Investing LLC grew its position in Warby Parker by 4,937.0% during the 1st quarter. GAMMA Investing LLC now owns 6,800 shares of the company’s stock worth $124,000 after purchasing an additional 6,665 shares in the last quarter. Castleark Management LLC acquired a new stake in Warby Parker during the 4th quarter valued at $4,294,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Warby Parker by 11.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,625 shares of the company’s stock valued at $5,293,000 after purchasing an additional 22,853 shares in the last quarter. Institutional investors and hedge funds 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.