Warby Parker (NYSE:WRBY) Receives Outperform Rating from Telsey Advisory Group

Warby Parker (NYSE:WRBY - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Telsey Advisory Group in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $28.00 target price on the stock. Telsey Advisory Group's target price suggests a potential upside of 15.94% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Evercore ISI reiterated an "in-line" rating and issued a $23.00 price objective on shares of Warby Parker in a research report on Friday, January 17th. BTIG Research upped their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, November 1st. William Blair raised shares of Warby Parker from a "market perform" rating to an "outperform" rating in a research note on Thursday, November 7th. Citigroup reaffirmed a "sell" rating and issued a $23.00 target price (up previously from $19.00) on shares of Warby Parker in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus raised their price target on Warby Parker from $17.00 to $20.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.43.

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Warby Parker Stock Performance

WRBY stock traded down $0.58 during midday trading on Thursday, hitting $24.15. 2,321,491 shares of the stock were exchanged, compared to its average volume of 1,623,046. The stock's 50-day moving average price is $25.61 and its 200-day moving average price is $20.74. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -89.44 and a beta of 1.90. Warby Parker has a fifty-two week low of $11.35 and a fifty-two week high of $28.68.

Insider Activity

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the company's stock in a transaction dated 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 directly owns 12,177 shares in the company, valued at $336,206.97. This represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the transaction, the chief financial officer now owns 189,146 shares in the company, valued at approximately $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 608,032 shares of company stock valued at $15,188,364 in the last 90 days. 26.55% of the stock is currently owned by insiders.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Durable Capital Partners LP grew its stake in Warby Parker by 10.3% during the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock worth $218,322,000 after buying an additional 840,797 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 3.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company's stock valued at $64,047,000 after acquiring an additional 89,835 shares in the last quarter. State Street Corp boosted its position in Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company's stock worth $36,073,000 after purchasing an additional 69,108 shares during the period. American Century Companies Inc. increased its holdings in Warby Parker by 64.7% in the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock valued at $51,916,000 after purchasing an additional 842,558 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Warby Parker by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company's stock valued at $48,478,000 after purchasing an additional 313,100 shares during the period. 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.