Warby Parker (NYSE:WRBY) Price Target Raised to $28.00

Warby Parker (NYSE:WRBY) had its target price boosted by JMP Securities from $23.00 to $28.00 in a report issued on Monday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Other analysts have also issued reports about the stock. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird increased their target price on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus raised their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Telsey Advisory Group boosted their price objective on Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler raised their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.73.

Warby Parker Stock Performance

NYSE:WRBY opened at $23.71 on Monday. Warby Parker has a 52-week low of $11.35 and a 52-week high of $25.35. The stock has a fifty day moving average of $20.43 and a 200 day moving average of $17.15. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -87.81 and a beta of 1.93.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 189,146 shares in the company, valued at $4,276,591.06. The trade was a 7.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $817,645.43. Following the completion of the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $275,321.97. This trade represents a 74.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,032 shares of company stock worth $2,503,303. Insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WRBY. Blueshift Asset Management LLC bought a new stake in shares of Warby Parker during the 3rd quarter valued at $1,223,000. Maverick Capital Ltd. purchased a new stake in Warby Parker in the second quarter worth about $1,465,000. Driehaus Capital Management LLC raised its stake in shares of Warby Parker by 43.9% in the second quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock worth $12,952,000 after buying an additional 246,011 shares during the period. Vaughan Nelson Investment Management L.P. lifted its position in shares of Warby Parker by 3.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after buying an additional 78,295 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in shares of Warby Parker by 12.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after acquiring an additional 211,050 shares during the period. 93.24% of the stock is currently owned by institutional investors.

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.