Warby Parker (NYSE:WRBY) Stock Rating Upgraded by Wall Street Zen

Warby Parker (NYSE:WRBY) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on WRBY. Robert W. Baird set a $30.00 target price on shares of Warby Parker and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. JMP Securities reaffirmed a “market perform” rating on shares of Warby Parker in a research note on Thursday, July 10th. BTIG Research reaffirmed a “buy” rating and issued a $28.00 target price (up from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th. Evercore ISI reaffirmed a “positive” rating on shares of Warby Parker in a research note on Thursday, August 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 target price (up from $20.00) on shares of Warby Parker in a research note on Thursday, May 29th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.06.

Warby Parker Trading Down 0.3%

Shares of NYSE WRBY opened at $26.16 on Friday. The firm has a market cap of $2.75 billion, a PE ratio of -373.72 and a beta of 2.09. Warby Parker has a 1-year low of $12.69 and a 1-year high of $29.73. The company has a fifty day moving average price of $24.01 and a 200 day moving average price of $21.05.

Insider Activity

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $25.11, for a total value of $1,255,500.00. Following the transaction, the chief executive officer directly owned 28,347 shares of the company’s stock, valued at $711,793.17. This represents a 63.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 6,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $23.56, for a total transaction of $141,360.00. Following the completion of the transaction, the director directly owned 44,879 shares in the company, valued at approximately $1,057,349.24. This represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,000 shares of company stock worth $2,607,280. Insiders own 18.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new position in Warby Parker in the 1st quarter valued at about $27,000. NewEdge Advisors LLC raised its holdings in 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 period. PNC Financial Services Group Inc. raised its holdings in Warby Parker by 400.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after acquiring an additional 1,281 shares during the period. Huntington National Bank grew its position in shares of Warby Parker by 111.0% during the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after purchasing an additional 881 shares in the last quarter. Finally, Comerica Bank grew its position in shares of 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 purchasing an additional 1,386 shares in the last quarter. 93.24% of the stock is 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.