Warby Parker (NYSE:WRBY) Price Target Raised to $26.00

Warby Parker (NYSE:WRBY) had its target price boosted by Telsey Advisory Group from $22.00 to $26.00 in a report released on Tuesday morning, Marketbeat reports. Telsey Advisory Group currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the company from $15.00 to $18.00 in a report on Monday, October 21st. Stifel Nicolaus increased their target price on shares of Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Piper Sandler raised their price target on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Robert W. Baird raised their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.82.

Warby Parker Stock Performance

Warby Parker stock opened at $23.27 on Tuesday. The firm’s fifty day moving average price is $17.37 and its 200-day moving average price is $16.14. Warby Parker has a fifty-two week low of $10.28 and a fifty-two week high of $23.39.

Insider Transactions at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $352,859.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $158,301. The trade was a 69.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,178 shares of company stock valued at $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WRBY. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Warby Parker by 113.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after buying an additional 1,315,672 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Warby Parker by 1,013.4% during the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after purchasing an additional 1,295,136 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Warby Parker by 44.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after purchasing an additional 481,900 shares during the last quarter. Verition Fund Management LLC purchased a new position in shares of Warby Parker during the third quarter valued at approximately $7,462,000. Finally, Zweig DiMenna Associates LLC purchased a new position in shares of Warby Parker during the second quarter valued at approximately $5,183,000. Institutional investors own 93.24% of the company’s stock.

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.