Warby Parker (NYSE:WRBY) Given New $22.00 Price Target at JMP Securities

Warby Parker (NYSE:WRBY) had its price target cut by JMP Securities from $30.00 to $22.00 in a research report released on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

Several other research analysts also recently weighed in on WRBY. Stifel Nicolaus dropped their target price on shares of Warby Parker from $25.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Roth Mkm began coverage on Warby Parker in a research report on Tuesday, February 25th. They set a “neutral” rating and a $26.00 target price for the company. Evercore ISI reaffirmed an “in-line” rating and set a $23.00 price objective on shares of Warby Parker in a report on Friday, January 17th. Robert W. Baird boosted their target price on shares of Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, UBS Group raised their target price 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. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.71.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $14.92 on Monday. The company has a market capitalization of $1.55 billion, a P/E ratio of -55.26 and a beta of 2.00. Warby Parker has a 1-year low of $11.66 and a 1-year high of $28.68. The firm’s 50 day simple moving average is $20.90 and its two-hundred day simple moving average is $21.65.

Insider Activity

In related news, CFO Steven Clive Miller sold 11,684 shares of Warby Parker 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 completion of the transaction, the chief financial officer now directly owns 204,727 shares of the company’s stock, valued at approximately $4,815,179.04. The trade was a 5.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’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 of the company’s stock, valued at approximately $336,206.97. The trade was a 80.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,651 shares of company stock valued at $2,313,092. 26.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its position 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 acquiring an additional 842,558 shares during the last quarter. Durable Capital Partners LP grew its holdings in shares of Warby Parker by 10.3% in the fourth 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 last quarter. Great Lakes Advisors LLC bought a new stake in Warby Parker during the 4th quarter valued at about $14,596,000. Symmetry Investments LP purchased a new stake in Warby Parker in the 4th quarter valued at about $8,581,000. Finally, Raymond James Financial Inc. bought a new position in Warby Parker in the 4th quarter worth about $8,272,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

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.