Warby Parker (NYSE:WRBY) Upgraded at Citigroup

Citigroup upgraded shares of Warby Parker (NYSE:WRBY) from a sell rating to a neutral rating in a report published on Wednesday, Marketbeat Ratings reports. The firm currently has $17.00 price objective on the stock, down from their prior price objective of $23.00.

A number of other brokerages also recently issued reports on WRBY. Stifel Nicolaus reduced their price target on Warby Parker from $25.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Loop Capital raised Warby Parker from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, April 17th. UBS Group upped their price objective on shares of Warby Parker from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, February 28th. JMP Securities dropped their target price on shares of Warby Parker from $30.00 to $22.00 and set a “market outperform” rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley upped their price target on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.64.

Warby Parker Stock Up 2.5 %

NYSE WRBY opened at $16.90 on Wednesday. The firm has a 50-day moving average price of $18.07 and a two-hundred day moving average price of $21.52. Warby Parker has a 12-month low of $12.26 and a 12-month high of $28.68. The company has a market capitalization of $1.75 billion, a P/E ratio of -62.59 and a beta of 2.00.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the completion of the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $657,783.84. Following the transaction, the chief executive officer now owns 23,961 shares in the company, valued at approximately $563,562.72. This trade represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. 26.55% of the stock is currently owned by company insiders.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently bought and sold shares of WRBY. Arizona State Retirement System grew its position in shares of Warby Parker by 2.6% in the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company’s stock valued at $602,000 after buying an additional 619 shares during the last quarter. Mariner LLC increased its position in Warby Parker by 6.5% during the 4th quarter. Mariner LLC now owns 10,772 shares of the company’s stock valued at $261,000 after purchasing an additional 660 shares during the period. Summit Investment Advisors Inc. raised its holdings in Warby Parker by 10.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company’s stock worth $224,000 after purchasing an additional 840 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Warby Parker in the 4th quarter worth approximately $25,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after purchasing an additional 1,028 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

About Warby Parker

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.