Warby Parker (NYSE:WRBY) Price Target Raised to $23.00

Warby Parker (NYSE:WRBY - Get Free Report) had its price target hoisted by investment analysts at UBS Group from $20.00 to $23.00 in a report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's price objective points to a potential downside of 0.98% from the company's previous close.

Several other equities analysts have also recently commented on WRBY. Evercore ISI restated an "in-line" rating and set a $23.00 price target on shares of Warby Parker in a report on Friday, January 17th. Morgan Stanley raised their price target on Warby Parker from $17.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. William Blair raised shares of Warby Parker from a "market perform" rating to an "outperform" rating in a research report on Thursday, November 7th. Citigroup reissued a "sell" rating and issued a $23.00 target price (up from $19.00) on shares of Warby Parker in a research report on Wednesday, February 5th. Finally, Roth Mkm assumed coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They issued a "neutral" rating and a $26.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.43.

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Warby Parker Stock Performance

Shares of NYSE WRBY traded down $0.94 during mid-day trading on Friday, reaching $23.23. The company had a trading volume of 4,868,872 shares, compared to its average volume of 1,702,241. The stock has a fifty day moving average of $25.59 and a two-hundred day moving average of $20.81. Warby Parker has a 12-month low of $11.35 and a 12-month high of $28.68. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -86.03 and a beta of 1.90.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the 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 sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $287,986.05. This trade represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 7,016 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the sale, the chief financial officer now owns 182,130 shares of the company's stock, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 557,016 shares of company stock worth $14,034,892 in the last 90 days. 26.55% of the stock is owned by company insiders.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently modified their holdings of WRBY. Arizona State Retirement System raised its position in Warby Parker by 2.6% in the fourth quarter. Arizona State Retirement System now owns 24,881 shares of the company's stock worth $602,000 after purchasing an additional 619 shares in the last quarter. Mariner LLC raised its holdings in shares of Warby Parker by 6.5% in the 4th quarter. Mariner LLC now owns 10,772 shares of the company's stock worth $261,000 after buying an additional 660 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Warby Parker by 10.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company's stock worth $224,000 after buying an additional 840 shares during the period. Global Retirement Partners LLC acquired a new stake in Warby Parker in the 4th quarter valued at $25,000. Finally, Jones Financial Companies Lllp grew its position in Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after acquiring an additional 1,028 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.