Warby Parker’s (WRBY) “Outperform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Warby Parker (NYSE:WRBY) in a report issued on Tuesday morning,Benzinga reports. They currently have a $32.00 price objective on the stock.

A number of other equities analysts have also issued reports on WRBY. Weiss Ratings restated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday, December 29th. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Wednesday, December 10th. UBS Group reduced their price target on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Stifel Nicolaus upped their price objective on shares of Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a report on Friday, December 12th. Finally, Piper Sandler increased their price objective on shares of Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Warby Parker has an average rating of “Moderate Buy” and a consensus target price of $27.38.

Warby Parker Stock Down 3.0%

Shares of Warby Parker stock opened at $21.32 on Tuesday. The company has a 50 day moving average price of $25.66 and a 200 day moving average price of $24.10. The firm has a market capitalization of $2.25 billion, a P/E ratio of 2,132.00 and a beta of 2.05. Warby Parker has a 52 week low of $13.63 and a 52 week high of $31.00.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Harris Blumenthal sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total value of $3,763,500.00. Following the sale, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at approximately $931,315.71. This trade represents a 80.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Youngme E. Moon sold 38,832 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the transaction, the director directly owned 27,057 shares of the company’s stock, valued at approximately $786,546.99. The trade was a 58.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 359,424 shares of company stock valued at $9,813,571. 18.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Man Group plc boosted its stake in Warby Parker by 1.6% during the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock worth $550,000 after purchasing an additional 400 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after purchasing an additional 494 shares during the last quarter. First Horizon Corp grew its position in shares of Warby Parker by 96.7% in the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after purchasing an additional 595 shares in the last quarter. Choreo LLC lifted its position in Warby Parker by 4.6% during the third quarter. Choreo LLC now owns 16,605 shares of the company’s stock worth $458,000 after buying an additional 728 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Warby Parker by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,034 shares of the company’s stock valued at $220,000 after acquiring an additional 769 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.