Warby Parker (NYSE:WRBY) Price Target Lowered to $18.00 at The Goldman Sachs Group

Warby Parker (NYSE:WRBY - Free Report) had its price objective decreased by The Goldman Sachs Group from $29.00 to $18.00 in a research report report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research firms have also issued reports on WRBY. JMP Securities lowered their price target on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. Telsey Advisory Group reiterated an "outperform" rating and issued a $28.00 target price on shares of Warby Parker in a research note on Thursday, February 27th. Roth Mkm started coverage on Warby Parker in a research note on Tuesday, February 25th. They set a "neutral" rating and a $26.00 price target for the company. Citigroup reaffirmed an "outperform" rating on shares of Warby Parker in a report on Friday, February 28th. Finally, Roth Capital raised shares of Warby Parker to a "strong-buy" rating in a research note on Monday, February 24th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Warby Parker currently has an average rating of "Moderate Buy" and an average target price of $22.93.

Warby Parker Trading Down 1.9 %

WRBY stock traded down $0.30 on Tuesday, hitting $15.54. The company's stock had a trading volume of 276,386 shares, compared to its average volume of 1,746,353. Warby Parker has a 1 year low of $11.66 and a 1 year high of $28.68. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -57.87 and a beta of 2.00. The firm has a 50 day moving average of $19.06 and a two-hundred day moving average of $21.50.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. This represents a 5.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $657,783.84. Following the completion of the transaction, the chief executive officer now owns 23,961 shares in the company, valued at approximately $563,562.72. This trade represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,651 shares of company stock valued at $2,313,092 in the last quarter. 26.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Durable Capital Partners LP raised its holdings in shares of Warby Parker by 10.3% in the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock worth $218,322,000 after purchasing an additional 840,797 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Warby Parker by 3.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company's stock valued at $64,047,000 after buying an additional 89,835 shares during the period. American Century Companies Inc. lifted its position in Warby Parker by 64.7% during the fourth quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock valued at $51,916,000 after buying an additional 842,558 shares in the last quarter. Renaissance Technologies LLC grew its stake in Warby Parker by 18.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company's stock worth $48,478,000 after buying an additional 313,100 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Warby Parker by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company's stock worth $48,375,000 after acquiring an additional 27,004 shares in the last quarter. Institutional investors and hedge funds 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.