Warby Parker's (WRBY) "Outperform" Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Warby Parker (NYSE:WRBY - Free Report) in a research note issued to investors on Thursday,Benzinga reports. Telsey Advisory Group currently has a $28.00 price target on the stock.

Several other analysts also recently issued reports on the company. Citigroup reissued a "sell" rating and issued a $23.00 price target (up previously from $19.00) on shares of Warby Parker in a report on Wednesday, February 5th. JMP Securities raised their price target on Warby Parker from $23.00 to $28.00 and gave the stock a "market outperform" rating in a report on Monday, December 16th. 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 report on Tuesday, January 21st. Stifel Nicolaus raised their price target on Warby Parker from $17.00 to $20.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Finally, Robert W. Baird raised their price target on Warby Parker from $18.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.92.

Warby Parker Stock Down 5.0 %

NYSE:WRBY traded down $1.27 during trading hours on Thursday, reaching $24.03. 1,680,832 shares of the stock were exchanged, compared to its average volume of 1,475,489. The firm has a 50 day simple moving average of $25.67 and a 200-day simple moving average of $20.29. Warby Parker has a 52 week low of $11.35 and a 52 week high of $28.68. The stock has a market capitalization of $2.44 billion, a P/E ratio of -89.00 and a beta of 1.90.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 36,163 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $275,321.97. This trade represents a 74.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven Clive Miller sold 7,016 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 608,032 shares of company stock valued at $15,188,364 in the last quarter. Insiders own 26.55% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Warby Parker in the fourth quarter worth about $25,000. NewEdge Advisors LLC boosted its holdings in shares of Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,050 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after purchasing an additional 1,028 shares during the period. Comerica Bank boosted its holdings in shares of Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after purchasing an additional 1,386 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Warby Parker during the fourth quarter worth approximately $69,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.