Warby Parker (NYSE:WRBY) Upgraded at Loop Capital

Warby Parker (NYSE:WRBY - Get Free Report) was upgraded by investment analysts at Loop Capital from a "hold" rating to a "buy" rating in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $27.00 target price on the stock. Loop Capital's target price would indicate a potential upside of 89.47% from the company's current price.

Other research analysts have also issued research reports about the company. Roth Capital upgraded Warby Parker to a "strong-buy" rating in a research report on Monday, February 24th. JMP Securities reduced their price objective on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley increased their target price on Warby Parker from $17.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. UBS Group upped their price target on shares of Warby Parker from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Friday, February 28th. Finally, Citigroup restated an "outperform" rating on shares of Warby Parker in a report on Friday, February 28th. Five investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.93.

Warby Parker Stock Performance

Shares of Warby Parker stock traded up $0.25 on Thursday, hitting $14.25. 717,485 shares of the company traded hands, compared to its average volume of 1,734,552. The business has a 50-day simple moving average of $19.71 and a 200 day simple moving average of $21.60. Warby Parker has a 52 week low of $11.66 and a 52 week high of $28.68. The stock has a market capitalization of $1.48 billion, a P/E ratio of -52.76 and a beta of 2.00.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $336,206.97. This represents a 80.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $274,807.68. Following the transaction, the chief financial officer now owns 204,727 shares in the company, valued at approximately $4,815,179.04. This trade represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,651 shares of company stock worth $2,313,092 over the last quarter. Insiders own 26.55% of the company's stock.

Hedge Funds Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently bought and sold shares of WRBY. Arizona State Retirement System boosted its holdings in shares of Warby Parker by 2.6% in the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company's stock valued at $602,000 after acquiring an additional 619 shares during the last quarter. Mariner LLC lifted its position in Warby Parker by 6.5% during the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock valued at $261,000 after purchasing an additional 660 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Warby Parker by 10.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company's stock valued at $224,000 after purchasing an additional 840 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Warby Parker during the 4th quarter worth about $25,000. Finally, Jones Financial Companies Lllp grew its position in Warby Parker by 205.6% during the 4th 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. Institutional investors and hedge funds own 93.24% of the company's stock.

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.