Warby Parker (NYSE:WRBY) Given “In-Line” Rating at Evercore ISI

Warby Parker (NYSE:WRBY)‘s stock had its “in-line” rating reissued by investment analysts at Evercore ISI in a report released on Friday,Benzinga reports. They currently have a $23.00 target price on the stock. Evercore ISI’s target price indicates a potential downside of 12.36% from the company’s current price.

Several other equities research analysts also recently commented on WRBY. Robert W. Baird upped their target price on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group boosted their price target on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. BTIG Research raised their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JMP Securities lifted their target price on Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Finally, Stifel Nicolaus increased their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.92.

Warby Parker Trading Down 0.2 %

Warby Parker stock opened at $26.24 on Friday. The firm has a market capitalization of $2.67 billion, a P/E ratio of -97.20 and a beta of 1.88. The business has a 50-day moving average of $23.93 and a 200-day moving average of $18.47. Warby Parker has a 1 year low of $11.35 and a 1 year high of $27.10.

Insider Activity

In related news, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the completion of the transaction, the chief financial officer now owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 36,163 shares of Warby Parker stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $817,645.43. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at $275,321.97. The trade was a 74.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 558,032 shares of company stock worth $13,807,864 over the last three months. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in Warby Parker by 6.7% during the second quarter. Rhumbline Advisers now owns 125,302 shares of the company’s stock worth $2,012,000 after acquiring an additional 7,820 shares in the last quarter. Choreo LLC acquired a new position in shares of Warby Parker during the 2nd quarter worth approximately $167,000. Dimensional Fund Advisors LP raised its stake in shares of Warby Parker by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after purchasing an additional 308,472 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after buying an additional 481,900 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Warby Parker by 11.5% in the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock valued at $413,000 after buying an additional 2,651 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.