Warby Parker (NYSE:WRBY) PT Raised to $21.00

Warby Parker (NYSE:WRBYGet Rating) had its price objective hoisted by equities research analysts at Evercore ISI to $21.00 in a report released on Wednesday, Stock Target Advisor reports. Evercore ISI’s price target indicates a potential upside of 27.35% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Warby Parker from $15.00 to $11.00 in a research report on Wednesday, July 20th. Robert W. Baird cut their price objective on shares of Warby Parker from $25.00 to $23.00 in a research report on Friday, November 11th. Citigroup cut their price objective on shares of Warby Parker from $29.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 11th. Morgan Stanley cut their price objective on shares of Warby Parker from $17.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Piper Sandler started coverage on shares of Warby Parker in a report on Friday, July 22nd. They issued an “overweight” rating and a $20.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.90.

Warby Parker Stock Performance

Shares of Warby Parker stock opened at $16.49 on Wednesday. The firm has a 50-day moving average of $14.84 and a 200-day moving average of $14.67. The stock has a market cap of $1.58 billion, a PE ratio of -13.74 and a beta of 1.72. Warby Parker has a 52-week low of $10.86 and a 52-week high of $58.65.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 5,099 shares of Warby Parker stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $15.10, for a total value of $76,994.90. Following the completion of the sale, the chief executive officer now owns 106 shares of the company’s stock, valued at approximately $1,600.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Durable Capital Partners Lp sold 522,962 shares of Warby Parker stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $15.30, for a total value of $8,001,318.60. Following the completion of the sale, the insider now owns 14,285,531 shares of the company’s stock, valued at approximately $218,568,624.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 5,099 shares of Warby Parker stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $15.10, for a total value of $76,994.90. Following the completion of the sale, the chief executive officer now directly owns 106 shares of the company’s stock, valued at approximately $1,600.60. The disclosure for this sale can be found here. Insiders sold a total of 959,475 shares of company stock valued at $14,396,495 in the last ninety days. 25.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Warby Parker by 6.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 21,314,924 shares of the company’s stock valued at $240,006,000 after buying an additional 1,365,543 shares in the last quarter. Durable Capital Partners LP grew its holdings in Warby Parker by 42.3% during the 1st quarter. Durable Capital Partners LP now owns 14,808,493 shares of the company’s stock valued at $500,675,000 after buying an additional 4,405,581 shares in the last quarter. FMR LLC grew its holdings in Warby Parker by 11.2% during the 2nd quarter. FMR LLC now owns 10,883,384 shares of the company’s stock valued at $122,547,000 after buying an additional 1,099,466 shares in the last quarter. Vanguard Group Inc. grew its holdings in Warby Parker by 12.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,169,751 shares of the company’s stock valued at $95,646,000 after buying an additional 813,826 shares in the last quarter. Finally, Baillie Gifford & Co. grew its holdings in Warby Parker by 0.4% during the 3rd quarter. Baillie Gifford & Co. now owns 6,301,737 shares of the company’s stock valued at $84,064,000 after buying an additional 24,515 shares in the last quarter.

About Warby Parker

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Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.

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