Warby Parker (NYSE:WRBY) Price Target Raised to $32.00

Warby Parker (NYSE:WRBY) had its target price boosted by Robert W. Baird from $30.00 to $32.00 in a research report released on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on WRBY. Roth Mkm assumed coverage on shares of Warby Parker in a research report on Tuesday. They set a “neutral” rating and a $26.00 price objective on the stock. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Roth Capital upgraded shares of Warby Parker to a “strong-buy” rating in a report on Monday, February 24th. Piper Sandler increased their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Citigroup reaffirmed a “sell” rating and issued a $23.00 price target (up previously from $19.00) on shares of Warby Parker in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.43.

Warby Parker Price Performance

WRBY opened at $24.77 on Friday. The company has a market capitalization of $2.52 billion, a PE ratio of -91.75 and a beta of 1.90. Warby Parker has a fifty-two week low of $11.35 and a fifty-two week high of $28.68. The business has a 50-day moving average of $25.62 and a 200-day moving average of $20.55.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the sale, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. This trade represents a 3.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $817,645.43. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $275,321.97. This represents a 74.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 608,032 shares of company stock worth $15,188,364 in the last 90 days. 26.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently added to or reduced their stakes in the company. Castleark Management LLC acquired a new position in Warby Parker in the 4th quarter valued at approximately $4,294,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Warby Parker by 11.7% during 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 during the period. Two Sigma Advisers LP raised its stake in shares of Warby Parker by 512.8% in the fourth quarter. Two Sigma Advisers LP now owns 124,400 shares of the company’s stock valued at $3,012,000 after purchasing an additional 104,100 shares in the last quarter. Two Sigma Investments LP lifted its position in Warby Parker by 72.5% in the fourth quarter. Two Sigma Investments LP now owns 242,582 shares of the company’s stock worth $5,873,000 after purchasing an additional 101,986 shares during the period. Finally, OMERS ADMINISTRATION Corp boosted its stake in Warby Parker by 107.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 22,400 shares of the company’s stock worth $542,000 after buying an additional 11,600 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.