JMP Securities Increases Warby Parker (NYSE:WRBY) Price Target to $28.00

Warby Parker (NYSE:WRBY) had its price objective raised by JMP Securities from $23.00 to $28.00 in a research note published on Monday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

WRBY has been the topic of several other research reports. The Goldman Sachs Group boosted their price target on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird increased their price target on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Telsey Advisory Group increased their target price on Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, BTIG Research raised their target price on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.73.

Warby Parker Stock Performance

WRBY stock opened at $23.71 on Monday. The company’s fifty day moving average price is $20.43 and its 200-day moving average price is $17.15. Warby Parker has a one year low of $11.35 and a one year high of $25.35. The company has a market capitalization of $2.41 billion, a PE ratio of -87.81 and a beta of 1.93.

Insider Buying and Selling

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $287,986.05. This trade represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Clive Miller sold 7,016 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the transaction, the chief financial officer now owns 182,130 shares in the company, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,032 shares of company stock valued at $2,503,303. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC purchased a new position in shares of Warby Parker during the second quarter worth approximately $131,000. Choreo LLC purchased a new position in Warby Parker during the 2nd quarter worth $167,000. AQR Capital Management LLC bought a new stake in Warby Parker during the 2nd quarter valued at $186,000. Thrivent Financial for Lutherans purchased a new stake in shares of Warby Parker in the 3rd quarter worth $213,000. Finally, LVW Advisors LLC grew its position in shares of Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after buying an additional 3,500 shares in the last quarter. 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.