Warby Parker (NYSE:WRBY) Earns “Outperform” Rating from Telsey Advisory Group

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reissued by investment analysts at Telsey Advisory Group in a research report issued on Tuesday,Benzinga reports. They currently have a $32.00 price target on the stock. Telsey Advisory Group’s target price points to a potential upside of 32.29% from the company’s current price.

WRBY has been the subject of a number of other research reports. BTIG Research raised their price target on Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Warby Parker in a report on Monday, December 29th. UBS Group decreased their price target on Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Wednesday, December 10th. Finally, Piper Sandler lifted their price objective on Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.38.

Warby Parker Stock Performance

Shares of WRBY opened at $24.19 on Tuesday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 2,419.00 and a beta of 2.05. The firm has a 50 day moving average price of $25.46 and a 200-day moving average price of $24.15. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $31.00.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total transaction of $1,354,000.00. Following the completion of the sale, the chief executive officer directly owned 37,119 shares in the company, valued at $1,005,182.52. The trade was a 57.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total transaction of $518,431.32. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at $520,200. The trade was a 49.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 359,424 shares of company stock valued at $9,813,571 over the last 90 days. Company insiders own 18.24% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently made changes to their positions in WRBY. AQR Capital Management LLC increased its holdings in Warby Parker by 101.0% during the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after buying an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock valued at $961,000 after acquiring an additional 2,297 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after purchasing an additional 929,073 shares in the last quarter. Caxton Associates LLP bought a new position in Warby Parker in the 1st quarter worth $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Warby Parker by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock worth $4,685,000 after purchasing an additional 38,395 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.