Warby Parker (NYSE:WRBY) Price Target Lowered to $22.00 at Telsey Advisory Group

Warby Parker (NYSE:WRBY - Get Free Report) had its target price reduced by research analysts at Telsey Advisory Group from $30.00 to $22.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Telsey Advisory Group's price target indicates a potential upside of 38.98% from the company's previous close.

A number of other brokerages have also recently weighed in on WRBY. Robert W. Baird boosted their price target on Warby Parker from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. JMP Securities reduced their price target on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating for the company in a research report on Monday, April 14th. Morgan Stanley boosted their price target on Warby Parker from $17.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Stifel Nicolaus reduced their price target on Warby Parker from $25.00 to $18.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, Citigroup upgraded Warby Parker from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $23.00 to $17.00 in a research note on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.21.

Warby Parker Stock Down 4.8%

Shares of NYSE:WRBY traded down $0.79 on Friday, reaching $15.83. The company had a trading volume of 2,865,049 shares, compared to its average volume of 1,798,717. Warby Parker has a twelve month low of $12.46 and a twelve month high of $28.68. The stock has a 50-day moving average price of $17.30 and a 200 day moving average price of $21.56. The stock has a market capitalization of $1.65 billion, a P/E ratio of -58.63 and a beta of 2.01.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 11,684 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $657,783.84. Following the transaction, the chief executive officer now owns 23,961 shares in the company, valued at $563,562.72. This represents a 53.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.55% of the company's stock.

Institutional Investors Weigh In On Warby Parker

Large investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in shares of Warby Parker in the 4th quarter valued at approximately $25,000. New York State Teachers Retirement System bought a new stake in shares of Warby Parker in the 1st quarter valued at approximately $27,000. NewEdge Advisors LLC grew its stake in shares of Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,050 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after purchasing an additional 1,028 shares during the period. Finally, Comerica Bank grew its stake in shares of Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after purchasing an additional 1,386 shares during the period. 93.24% of the stock is currently owned by institutional investors.

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.