Warby Parker (NYSE:WRBY) Now Covered by Analysts at Roth Mkm

Roth Mkm assumed coverage on shares of Warby Parker (NYSE:WRBY) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $26.00 price target on the stock. Roth Mkm’s target price points to a potential upside of 11.80% from the stock’s previous close.

WRBY has been the subject of several other reports. Robert W. Baird boosted their target price on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Evercore ISI restated an “in-line” rating and set a $23.00 price objective on shares of Warby Parker in a research report on Friday, January 17th. Morgan Stanley upped their price objective on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup restated a “sell” rating and set a $23.00 price objective (up from $19.00) on shares of Warby Parker in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus upped their price objective on shares of Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $22.21.

Warby Parker Price Performance

WRBY opened at $23.26 on Tuesday. The firm has a fifty day moving average price of $25.65 and a 200 day moving average price of $20.43. Warby Parker has a 1 year low of $11.35 and a 1 year high of $28.68. The stock has a market cap of $2.36 billion, a P/E ratio of -86.13 and a beta of 1.90.

Insider Transactions at Warby Parker

In related news, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the sale, the chief financial officer now owns 182,130 shares of the company’s stock, valued at $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $817,645.43. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $275,321.97. This trade represents a 74.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 608,032 shares of company stock valued at $15,188,364. 26.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRBY. State Street Corp increased its holdings in shares of Warby Parker by 3.2% in the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after acquiring an additional 69,108 shares during the period. Blueshift Asset Management LLC acquired a new position in Warby Parker in the 3rd quarter valued at $1,223,000. TimesSquare Capital Management LLC increased its stake in Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after buying an additional 211,050 shares during the period. Vaughan Nelson Investment Management L.P. increased its stake in Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after buying an additional 78,295 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in Warby Parker by 20.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after buying an additional 300,891 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.