Warby Parker (NYSE:WRBY) Price Target Raised to $26.00 at Telsey Advisory Group

Warby Parker (NYSE:WRBY - Get Free Report) had its price objective upped by investment analysts at Telsey Advisory Group from $22.00 to $26.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has an "outperform" rating on the stock. Telsey Advisory Group's price target points to a potential upside of 12.75% from the stock's current price.

A number of other equities analysts have also recently issued reports on WRBY. William Blair raised Warby Parker from a "market perform" rating to an "outperform" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised Warby Parker from a "neutral" rating to a "buy" rating and raised their price target for the company from $15.00 to $18.00 in a report on Monday, October 21st. Robert W. Baird raised their price target on Warby Parker from $18.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, November 8th. BTIG Research raised their price target on Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, JMP Securities raised Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 price target for the company in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $18.82.

Warby Parker Stock Up 1.1 %

Shares of WRBY stock traded up $0.24 during mid-day trading on Tuesday, reaching $23.06. The stock had a trading volume of 1,838,265 shares, compared to its average volume of 1,425,609. The firm's 50 day simple moving average is $16.82 and its 200 day simple moving average is $15.97. Warby Parker has a one year low of $10.28 and a one year high of $23.39. The firm has a market cap of $2.34 billion, a PE ratio of -84.52 and a beta of 1.80.

Insiders Place Their Bets

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $13.89, for a total value of $694,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $169,138.53. The trade was a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Steven Clive Miller sold 6,763 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the transaction, the chief financial officer now owns 177,488 shares of the company's stock, valued at approximately $2,467,083.20. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,178 shares of company stock worth $1,339,901. Corporate insiders own 26.55% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its holdings in shares of Warby Parker by 10.2% during the first quarter. ProShare Advisors LLC now owns 15,470 shares of the company's stock worth $211,000 after buying an additional 1,434 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Warby Parker by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company's stock valued at $782,000 after acquiring an additional 1,556 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company's stock worth $70,000 after purchasing an additional 2,276 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Warby Parker by 11.5% during the 2nd quarter. Hsbc Holdings PLC now owns 25,696 shares of the company's stock worth $413,000 after purchasing an additional 2,651 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Warby Parker by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company's stock worth $717,000 after purchasing an additional 3,007 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.