Morgan Stanley Forecasts Strong Price Appreciation for Warby Parker (NYSE:WRBY) Stock

Warby Parker (NYSE:WRBY) had its target price increased by Morgan Stanley from $17.00 to $23.00 in a report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts also recently commented on WRBY. Telsey Advisory Group boosted their target price on Warby Parker from $22.00 to $26.00 and gave the stock 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 report on Thursday, November 7th. BTIG Research boosted their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JMP Securities boosted their target price on Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Finally, Stifel Nicolaus upped their price objective on Warby Parker from $17.00 to $20.00 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.67.

Warby Parker Trading Up 5.2 %

NYSE:WRBY opened at $26.27 on Tuesday. The stock has a market capitalization of $2.67 billion, a P/E ratio of -97.28 and a beta of 1.88. Warby Parker has a 1 year low of $11.35 and a 1 year high of $27.10. The firm has a 50 day moving average of $24.37 and a 200-day moving average of $18.79.

Insider Buying and Selling at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 36,163 shares of the company’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 $817,645.43. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at $275,321.97. This represents a 74.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 189,146 shares of the company’s stock, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 558,032 shares of company stock worth $13,807,864. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of large investors have recently made changes to their positions in WRBY. Marshall Wace LLP increased its position 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 in the last quarter. Verition Fund Management LLC bought a new stake in shares of Warby Parker in the 3rd quarter valued at $7,462,000. Dimensional Fund Advisors LP boosted its stake in Warby Parker by 29.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after purchasing an additional 308,472 shares during the period. Loomis Sayles & Co. L P boosted its stake in Warby Parker by 20.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock worth $29,111,000 after purchasing an additional 300,891 shares during the period. Finally, Driehaus Capital Management LLC boosted its stake in Warby Parker by 43.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock worth $12,952,000 after purchasing an additional 246,011 shares during the period. 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.