The Goldman Sachs Group Lowers Warby Parker (NYSE:WRBY) Price Target to $18.00

Warby Parker (NYSE:WRBY) had its price objective reduced by The Goldman Sachs Group from $29.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 20.64% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Loop Capital upgraded Warby Parker from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, April 17th. Roth Capital raised shares of Warby Parker to a “strong-buy” rating in a report on Monday, February 24th. Roth Mkm began coverage on shares of Warby Parker in a report on Tuesday, February 25th. They issued a “neutral” rating and a $26.00 price target on the stock. Robert W. Baird raised their price objective on shares of Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Morgan Stanley increased their target price on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.93.

Warby Parker Stock Performance

Shares of NYSE:WRBY opened at $14.92 on Tuesday. Warby Parker has a 52-week low of $11.66 and a 52-week high of $28.68. The company has a market capitalization of $1.55 billion, a P/E ratio of -55.26 and a beta of 2.00. The company has a 50-day simple moving average of $19.26 and a 200 day simple moving average of $21.50.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,967 shares of the firm’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 $657,783.84. Following the sale, the chief executive officer now owns 23,961 shares of the company’s stock, valued at approximately $563,562.72. This trade represents a 53.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief financial officer now owns 204,727 shares of the company’s stock, valued at approximately $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,651 shares of company stock valued at $2,313,092. 26.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new stake in shares of Warby Parker during the 4th quarter valued at approximately $25,000. NewEdge Advisors LLC lifted its stake in shares of Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after acquiring an additional 1,028 shares in the last quarter. Comerica Bank grew its position in Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock worth $55,000 after acquiring 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 valued at about $69,000. 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.