Warby Parker (NYSE:WRBY) Price Target Cut to $22.00 by Analysts at JMP Securities

Warby Parker (NYSE:WRBY) had its price target trimmed by JMP Securities from $30.00 to $22.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other analysts have also commented on the stock. Citigroup restated an “outperform” rating on shares of Warby Parker in a report on Friday, February 28th. Morgan Stanley lifted their price target on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Roth Mkm started coverage on Warby Parker in a report on Tuesday, February 25th. They issued a “neutral” rating and a $26.00 price objective for the company. UBS Group boosted their target price 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, Evercore ISI reiterated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.71.

Warby Parker Trading Up 0.8 %

Shares of Warby Parker stock opened at $14.92 on Monday. Warby Parker has a 12-month low of $11.66 and a 12-month high of $28.68. The company has a market cap of $1.55 billion, a P/E ratio of -55.26 and a beta of 2.00. The company’s fifty day simple moving average is $20.90 and its two-hundred day simple moving average is $21.65.

Insider Buying and Selling at Warby Parker

In related news, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the transaction, the chief financial officer now owns 204,727 shares in the company, valued at $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on 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. This trade represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,651 shares of company stock worth $2,313,092. Insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Warby Parker in the fourth quarter valued at about $25,000. NewEdge Advisors LLC boosted its holdings in shares of Warby Parker by 700.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock worth $29,000 after buying an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp grew its position in Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after buying an additional 1,028 shares during the period. Comerica Bank increased its holdings in Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after buying an additional 1,386 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Warby Parker in the fourth quarter worth approximately $69,000. 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.