Warby Parker (NYSE:WRBY) Given New $18.00 Price Target at The Goldman Sachs Group

Warby Parker (NYSE:WRBY - Free Report) had its price objective cut by The Goldman Sachs Group from $29.00 to $18.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the company. Robert W. Baird raised their price target on Warby Parker from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Citigroup reaffirmed an "outperform" rating on shares of Warby Parker in a research report on Friday, February 28th. Roth Mkm assumed coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They issued a "neutral" rating and a $26.00 price objective for the company. JMP Securities dropped their target price on shares of Warby Parker from $30.00 to $22.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. Finally, Roth Capital upgraded Warby Parker to a "strong-buy" rating in a report on Monday, February 24th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.93.

Warby Parker Price Performance

WRBY stock traded down $0.34 during midday trading on Tuesday, hitting $15.50. The company's stock had a trading volume of 2,182,525 shares, compared to its average volume of 1,759,167. The company's fifty day moving average price is $18.86 and its 200 day moving average price is $21.53. Warby Parker has a twelve month low of $11.66 and a twelve month high of $28.68. The stock has a market capitalization of $1.61 billion, a P/E ratio of -57.41 and a beta of 2.00.

Insider Activity

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the sale, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $336,206.97. This represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,651 shares of company stock worth $2,313,092. Corporate insiders own 26.55% of the company's stock.

Institutional Investors Weigh In On Warby Parker

A number of large investors have recently modified their holdings of the business. Arizona State Retirement System lifted its position in shares of Warby Parker by 2.6% during the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company's stock worth $602,000 after buying an additional 619 shares during the last quarter. Mariner LLC lifted its holdings in shares of Warby Parker by 6.5% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock worth $261,000 after acquiring an additional 660 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Warby Parker by 10.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company's stock valued at $224,000 after purchasing an additional 840 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Warby Parker during the 4th quarter valued at approximately $25,000. Finally, Jones Financial Companies Lllp increased its position in Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after purchasing an additional 1,028 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.