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

Telsey Advisory Group reissued their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research report report published on Thursday,Benzinga reports. Telsey Advisory Group currently has a $28.00 price objective on the stock.

WRBY has been the topic of a number of other research reports. 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. Stifel Nicolaus boosted their price objective on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Piper Sandler increased their target price on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Evercore ISI restated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. Finally, William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Warby Parker presently has an average rating of “Moderate Buy” and a consensus target price of $22.21.

Warby Parker Price Performance

Shares of WRBY stock opened at $24.31 on Thursday. The stock has a market cap of $2.47 billion, a P/E ratio of -90.02 and a beta of 1.90. The company has a fifty day moving average price of $25.62 and a two-hundred day moving average price of $20.55. Warby Parker has a one year low of $11.35 and a one year high of $28.68.

Insider Activity

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the sale, the chief financial officer now owns 189,146 shares of the company’s stock, valued at approximately $4,276,591.06. This trade represents a 7.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $275,321.97. This trade represents a 74.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 608,032 shares of company stock worth $15,188,364. 26.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WRBY. American Century Companies Inc. grew its holdings in shares of Warby Parker by 64.7% during the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock valued at $51,916,000 after purchasing an additional 842,558 shares during the last quarter. Durable Capital Partners LP grew its stake in shares of Warby Parker by 10.3% during the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company’s stock worth $218,322,000 after buying an additional 840,797 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in shares of Warby Parker during the fourth quarter worth $14,596,000. Verition Fund Management LLC bought a new position in shares of Warby Parker in the 3rd quarter valued at $7,462,000. Finally, Symmetry Investments LP bought a new position in shares of Warby Parker in the 4th quarter valued at $8,581,000. 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.