Telsey Advisory Group Reaffirms Outperform Rating for Warby Parker (NYSE:WRBY)

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reaffirmed by investment analysts at Telsey Advisory Group in a research note issued on Friday,Benzinga reports. They currently have a $28.00 target price on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 42.97% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Zacks Research raised Warby Parker from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Citizens Jmp downgraded Warby Parker from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 10th. 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 set a $28.00 price target on shares of Warby Parker in a research note on Tuesday, October 28th. Finally, Roth Capital set a $24.00 price target on Warby Parker and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Warby Parker presently has a consensus rating of “Hold” and a consensus price target of $25.20.

Warby Parker Trading Up 1.6%

Shares of Warby Parker stock opened at $19.58 on Friday. The stock has a 50-day moving average price of $24.97 and a 200 day moving average price of $22.47. The company has a market cap of $2.06 billion, a P/E ratio of -279.73 and a beta of 2.10. Warby Parker has a 1 year low of $13.63 and a 1 year high of $29.73.

Insider Activity

In other news, Director Joel E. Cutler sold 35,000 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $26.75, for a total transaction of $936,250.00. Following the transaction, the director owned 19,932 shares of the company’s stock, valued at approximately $533,181. This represents a 63.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $141,360.00. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 141,000 shares of company stock valued at $3,709,521. Insiders own 18.24% of the company’s stock.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRBY. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Warby Parker during the 1st quarter worth approximately $2,029,000. New York State Teachers Retirement System acquired a new stake in shares of Warby Parker during the 1st quarter worth approximately $27,000. Kings Path Partners LLC acquired a new stake in shares of Warby Parker during the 2nd quarter worth approximately $300,000. Jennison Associates LLC grew its holdings in shares of Warby Parker by 23.7% during the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company’s stock worth $39,635,000 after purchasing an additional 416,797 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Warby Parker during the 1st quarter worth approximately $656,000. 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.