Evercore ISI Reiterates In-Line Rating for Warby Parker (NYSE:WRBY)

Evercore ISI reiterated their in-line rating on shares of Warby Parker (NYSE:WRBY) in a research note published on Friday morning, Marketbeat Ratings reports. The firm currently has a $23.00 target price on the stock.

Several other research firms also recently commented on WRBY. The Goldman Sachs Group upped their target price on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Stifel Nicolaus upped their target price on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird upped their target price on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Telsey Advisory Group upped 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, Piper Sandler upped their target price on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.92.

Warby Parker Stock Performance

NYSE:WRBY opened at $24.57 on Friday. The stock’s 50 day moving average price is $24.03 and its two-hundred day moving average price is $18.54. Warby Parker has a 12-month low of $11.35 and a 12-month high of $27.10.

Insider Buying and Selling

In other Warby Parker news, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total value of $167,331.60. Following the sale, 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 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 firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $275,321.97. This represents a 74.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 558,032 shares of company stock valued at $13,807,864 over the last 90 days. 26.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Large investors have recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Warby Parker by 3.2% in the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after purchasing an additional 69,108 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Warby Parker in the 3rd quarter valued at $1,223,000. Maverick Capital Ltd. bought a new position in shares of Warby Parker in the 2nd quarter valued at $1,465,000. Driehaus Capital Management LLC lifted its stake in shares of Warby Parker by 43.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock valued at $12,952,000 after acquiring an additional 246,011 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its stake in shares of Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after acquiring an additional 211,050 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

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.