Warby Parker (NYSE:WRBY) Stock Price Expected to Rise, UBS Group Analyst Says

Warby Parker (NYSE:WRBY) had its target price raised by equities research analysts at UBS Group from $20.00 to $23.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential downside of 5.31% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. Roth Mkm initiated coverage on shares of Warby Parker in a research report on Tuesday. They issued a “neutral” rating and a $26.00 price target on the stock. Morgan Stanley lifted their target price on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group raised their price objective on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird upped their price objective on shares of Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday. Finally, BTIG Research raised their price objective on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.43.

Warby Parker Stock Down 0.1 %

WRBY stock traded down $0.02 during mid-day trading on Friday, reaching $24.29. The company had a trading volume of 1,105,732 shares, compared to its average volume of 1,574,177. Warby Parker has a one year low of $11.35 and a one year high of $28.68. The stock has a market capitalization of $2.47 billion, a P/E ratio of -89.85 and a beta of 1.90. The stock’s 50-day simple moving average is $25.62 and its two-hundred day simple moving average is $20.55.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $817,645.43. Following the completion of the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $275,321.97. This represents a 74.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Clive Miller sold 14,853 shares of Warby Parker stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the sale, the chief financial officer now directly owns 189,146 shares in the company, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 608,032 shares of company stock valued at $15,188,364 over the last quarter. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Large investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Warby Parker by 3.2% in the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after buying an additional 69,108 shares during the period. Blueshift Asset Management LLC bought a new position in Warby Parker during the third quarter worth $1,223,000. TimesSquare Capital Management LLC increased its holdings in shares of Warby Parker by 12.8% in the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after purchasing an additional 211,050 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Warby Parker by 3.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after purchasing an additional 78,295 shares during the period. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of Warby Parker by 20.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock worth $29,111,000 after buying an additional 300,891 shares during the period. Institutional investors and hedge funds 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.