Warby Parker (NYSE:WRBY) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Warby Parker (NYSE:WRBY) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Other equities analysts have also recently issued reports about the stock. Cowen restated a “buy” rating on shares of Warby Parker in a research report on Friday, August 8th. Evercore ISI restated a “positive” rating on shares of Warby Parker in a report on Thursday, August 7th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $28.00 target price on shares of Warby Parker in a research report on Friday. BTIG Research reiterated a “buy” rating and issued a $28.00 price target on shares of Warby Parker in a research report on Tuesday, October 28th. Finally, JMP Securities restated a “market perform” rating on shares of Warby Parker in a research report on Thursday, July 10th. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.20.

Warby Parker Trading Up 1.2%

NYSE:WRBY opened at $19.83 on Friday. The stock’s 50-day moving average is $24.84 and its 200-day moving average is $22.57. Warby Parker has a 1-year low of $13.63 and a 1-year high of $29.73. The stock has a market cap of $2.09 billion, a P/E ratio of -283.25 and a beta of 2.10.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total value of $1,255,500.00. Following the completion of the sale, the chief executive officer directly owned 28,347 shares in the company, valued at approximately $711,793.17. The trade was a 63.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 6,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $23.56, for a total value of $141,360.00. Following the transaction, the director owned 44,879 shares in the company, valued at $1,057,349.24. The trade was a 11.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 141,000 shares of company stock valued at $3,709,521. Corporate insiders own 18.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Man Group plc grew its holdings in shares of Warby Parker by 1.6% during the second quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after buying an additional 400 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Warby Parker by 8.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,034 shares of the company’s stock valued at $220,000 after acquiring an additional 769 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Warby Parker by 10.1% during the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock valued at $246,000 after purchasing an additional 816 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in Warby Parker by 5.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 15,899 shares of the company’s stock worth $349,000 after purchasing an additional 819 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Warby Parker by 259.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after purchasing an additional 861 shares in 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.