Telsey Advisory Group Reiterates “Outperform” Rating for Warby Parker (NYSE:WRBY)

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating restated by equities researchers at Telsey Advisory Group in a report issued on Thursday,Benzinga reports. They currently have a $28.00 price objective on the stock. Telsey Advisory Group’s price objective points to a potential upside of 9.95% from the stock’s current price.

Other research analysts have also issued research reports about the company. 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 report on Tuesday, January 21st. The Goldman Sachs Group boosted their price target on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI reaffirmed an “in-line” rating and set a $23.00 price objective on shares of Warby Parker in a report on Friday, January 17th. Finally, Piper Sandler increased their target price on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Warby Parker has a consensus rating of “Moderate Buy” and a consensus price target of $21.92.

Warby Parker Stock Performance

NYSE:WRBY opened at $25.47 on Thursday. Warby Parker has a 52-week low of $11.35 and a 52-week high of $28.68. The stock has a fifty day moving average of $25.63 and a 200 day moving average of $20.19. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -94.32 and a beta of 1.90.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $336,206.97. This trade represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $335,826.33. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 608,032 shares of company stock valued at $15,188,364. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of institutional investors have recently modified their holdings of WRBY. Global Retirement Partners LLC bought a new position in Warby Parker during the 4th quarter valued at approximately $25,000. NewEdge Advisors LLC increased its stake in shares of Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,050 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Warby Parker by 205.6% during the fourth 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 raised its holdings in shares of Warby Parker by 153.1% during the fourth 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 purchased a new stake in Warby Parker in the fourth quarter worth $69,000. 93.24% of the stock is currently 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.