Warby Parker (NYSE:WRBY) Upgraded by JMP Securities to “Outperform”

JMP Securities upgraded shares of Warby Parker (NYSE:WRBY) from a market perform rating to an outperform rating in a research report report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has $20.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Telsey Advisory Group reissued an outperform rating and issued a $19.00 price target on shares of Warby Parker in a research note on Thursday, August 8th. Loop Capital increased their price target on Warby Parker from $15.00 to $16.00 and gave the company a hold rating in a research note on Wednesday, July 10th. UBS Group increased their price target on Warby Parker from $13.00 to $15.00 and gave the company a neutral rating in a research note on Friday, May 10th. Stifel Nicolaus upped their target price on Warby Parker from $14.00 to $15.00 and gave the company a hold rating in a research report on Friday, August 9th. Finally, Morgan Stanley upped their target price on Warby Parker from $13.00 to $14.00 and gave the company an equal weight rating in a research report on Friday, May 10th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $17.11.

Warby Parker Trading Up 11.9 %

Shares of WRBY stock opened at $15.51 on Friday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -33.00 and a beta of 1.82. The stock has a 50-day moving average of $15.37 and a 200-day moving average of $14.50. Warby Parker has a 1-year low of $9.83 and a 1-year high of $17.95.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 15,709 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $17.04, for a total value of $267,681.36. Following the transaction, the chief financial officer now owns 166,879 shares in the company, valued at $2,843,618.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Neil Harris Blumenthal sold 76,582 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $16.65, for a total value of $1,275,090.30. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $202,747.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 15,709 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total value of $267,681.36. Following the completion of the transaction, the chief financial officer now owns 166,879 shares in the company, valued at approximately $2,843,618.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,848,537 shares of company stock worth $91,938,722. Corporate insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its holdings in shares of Warby Parker by 610.3% in the second quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock valued at $1,471,000 after purchasing an additional 78,702 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Warby Parker during the fourth quarter valued at approximately $9,542,000. Janney Montgomery Scott LLC increased its position in shares of Warby Parker by 302.0% during the first quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company’s stock valued at $657,000 after acquiring an additional 36,245 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Warby Parker by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after acquiring an additional 607,352 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Warby Parker by 37.1% during the first quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock valued at $3,067,000 after acquiring an additional 61,004 shares during the last quarter. 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.