Stifel Nicolaus Increases Warby Parker (NYSE:WRBY) Price Target to $20.00

Warby Parker (NYSE:WRBY) had its target price lifted by Stifel Nicolaus from $17.00 to $20.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. Telsey Advisory Group increased their price target on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday. BTIG Research raised their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Warby Parker Stock Down 0.8 %

Shares of WRBY stock opened at $23.63 on Wednesday. The company’s fifty day simple moving average is $19.96 and its two-hundred day simple moving average is $17.01. Warby Parker has a 52 week low of $11.35 and a 52 week high of $24.71. The stock has a market cap of $2.40 billion, a P/E ratio of -87.52 and a beta of 1.93.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $287,986.05. This trade represents a 80.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of Warby Parker stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the transaction, the chief financial officer now directly owns 189,146 shares in the company, 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. Insiders sold a total of 108,032 shares of company stock valued at $2,503,303 in the last three months. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC purchased a new position in Warby Parker during the 2nd quarter worth approximately $131,000. Choreo LLC acquired a new stake in Warby Parker during the 2nd quarter worth about $167,000. AQR Capital Management LLC acquired a new stake in Warby Parker during the 2nd quarter worth about $186,000. Thrivent Financial for Lutherans purchased a new position in shares of Warby Parker during the 3rd quarter valued at about $213,000. Finally, LVW Advisors LLC lifted its holdings in shares of Warby Parker by 27.9% in the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after buying an additional 3,500 shares during the period. 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.