Warby Parker’s (WRBY) In-Line Rating Reiterated at Evercore ISI

Warby Parker (NYSE:WRBY)‘s stock had its “in-line” rating restated by investment analysts at Evercore ISI in a research report issued on Friday,Benzinga reports. They presently have a $23.00 price objective on the stock. Evercore ISI’s price target suggests a potential downside of 12.36% from the stock’s previous close.

Several other equities analysts have also issued reports on WRBY. JMP Securities boosted their price target on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. The Goldman Sachs Group boosted their price objective on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Stifel Nicolaus boosted 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. Finally, William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and an average target price of $20.92.

Warby Parker Price Performance

NYSE WRBY opened at $26.24 on Friday. The company’s fifty day moving average is $23.93 and its two-hundred day moving average is $18.47. Warby Parker has a 52-week low of $11.35 and a 52-week high of $27.10. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of -97.20 and a beta of 1.88.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’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 completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction that occurred 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 directly owns 189,146 shares in the company, valued at $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 558,032 shares of company stock valued at $13,807,864 in the last three months. Corporate insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP increased its stake in shares of Warby Parker by 1,013.4% in the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after buying an additional 1,295,136 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after purchasing an additional 481,900 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Warby Parker in the 3rd quarter valued at about $7,462,000. Dimensional Fund Advisors LP grew its position in shares of Warby Parker by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after buying an additional 308,472 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in shares of Warby Parker by 20.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock worth $29,111,000 after buying an additional 300,891 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.