Warby Parker (NYSE:WRBY) Upgraded to “Buy” at Loop Capital

Loop Capital upgraded shares of Warby Parker (NYSE:WRBY) from a hold rating to a buy rating in a research note published on Thursday, Marketbeat reports. They currently have $27.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird increased their price target on Warby Parker from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Stifel Nicolaus dropped their price objective on shares of Warby Parker from $25.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Piper Sandler reduced 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. UBS Group upped their price target on shares of Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Evercore ISI reissued an “in-line” rating and set a $23.00 price target on shares of Warby Parker in a report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.50.

Warby Parker Stock Performance

Warby Parker stock opened at $14.25 on Thursday. The stock has a 50-day simple moving average of $20.18 and a 200 day simple moving average of $21.54. The stock has a market capitalization of $1.48 billion, a P/E ratio of -52.78 and a beta of 2.00. Warby Parker has a 52 week low of $11.66 and a 52 week high of $28.68.

Insider Transactions at Warby Parker

In related news, CFO Steven Clive Miller sold 11,684 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the sale, the chief financial officer now owns 204,727 shares in the company, valued at $4,815,179.04. The trade was a 5.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $27.61, for a total value of $1,380,500.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $336,206.97. This represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,651 shares of company stock valued at $2,313,092. 26.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WRBY. American Century Companies Inc. grew its holdings in Warby Parker by 64.7% during the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock worth $51,916,000 after acquiring an additional 842,558 shares during the last quarter. Durable Capital Partners LP lifted its holdings in shares of Warby Parker by 10.3% during the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company’s stock worth $218,322,000 after purchasing an additional 840,797 shares during the period. Great Lakes Advisors LLC bought a new stake in shares of Warby Parker in the fourth quarter worth $14,596,000. Symmetry Investments LP acquired a new stake in Warby Parker in the fourth quarter valued at $8,581,000. Finally, Raymond James Financial Inc. bought a new position in Warby Parker during the 4th quarter worth $8,272,000. 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.