Stifel Nicolaus Cuts Warby Parker (NYSE:WRBY) Price Target to $18.00

Warby Parker (NYSE:WRBY) had its price target trimmed by Stifel Nicolaus from $25.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research analysts also recently weighed in on the company. Roth Mkm assumed coverage on Warby Parker in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $26.00 price target for the company. Telsey Advisory Group restated an “outperform” rating and set a $28.00 target price on shares of Warby Parker in a research report on Thursday, February 27th. Morgan Stanley lifted their price target on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. UBS Group increased their price objective on shares of Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, February 28th. Finally, JMP Securities raised their price objective on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.14.

Warby Parker Stock Down 2.3 %

Shares of Warby Parker stock opened at $14.83 on Thursday. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -54.91 and a beta of 2.00. The stock’s 50-day simple moving average is $21.14 and its 200-day simple moving average is $21.62. Warby Parker has a 52 week low of $11.66 and a 52 week high of $28.68.

Insider Activity

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now owns 204,727 shares of the company’s stock, valued at $4,815,179.04. This represents a 5.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value 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. The trade was a 80.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,651 shares of company stock valued at $2,313,092. 26.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Warby Parker by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,772 shares of the company’s stock valued at $3,197,000 after buying an additional 7,182 shares during the period. State Street Corp raised its stake in shares of Warby Parker by 3.2% during the third 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 in the last quarter. XTX Topco Ltd boosted its holdings in shares of Warby Parker by 71.8% in the third quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock valued at $721,000 after purchasing an additional 18,443 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Warby Parker in the third quarter worth approximately $318,000. Finally, Geode Capital Management LLC grew its stake in Warby Parker by 7.9% in the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after purchasing an additional 144,623 shares in the last quarter. 93.24% of the stock is currently owned by 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.