Evercore ISI Reaffirms “In-Line” Rating for Warby Parker (NYSE:WRBY)

Warby Parker (NYSE:WRBY)‘s stock had its “in-line” rating reaffirmed by stock analysts at Evercore ISI in a note issued to investors on Friday, MarketBeat.com reports. They currently have a $23.00 price objective on the stock. Evercore ISI’s target price indicates a potential downside of 6.37% from the stock’s current price.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded 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 note on Monday, October 21st. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. BTIG Research raised their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Telsey Advisory Group upped their target price on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Stifel Nicolaus raised their price target on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and an average target price of $20.92.

Warby Parker Trading Down 6.3 %

WRBY opened at $24.57 on Friday. Warby Parker has a 12 month low of $11.35 and a 12 month high of $27.10. The company has a market cap of $2.50 billion, a PE ratio of -90.98 and a beta of 1.88. The company has a 50 day moving average of $24.03 and a 200 day moving average of $18.55.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the sale, the chief financial officer now directly owns 189,146 shares of the company’s stock, valued at $4,276,591.06. The trade was a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $287,986.05. The trade was a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 558,032 shares of company stock worth $13,807,864. 26.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Warby Parker

A number of institutional investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Warby Parker by 3.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after purchasing an additional 78,295 shares during the period. State Street Corp raised its position in Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after purchasing an additional 69,108 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Warby Parker by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after buying an additional 144,623 shares during the period. Jennison Associates LLC grew its position in shares of Warby Parker by 13.6% in the 3rd quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock worth $31,666,000 after buying an additional 232,530 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in shares of Warby Parker by 12.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after buying an additional 211,050 shares during the period. Hedge funds and other 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.