Warby Parker (NYSE:WRBY) Price Target Raised to $24.00 at TD Securities

Warby Parker (NYSE:WRBY - Get Free Report) had its target price increased by investment analysts at TD Securities from $20.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. TD Securities' price objective would indicate a potential upside of 15.93% from the company's previous close.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group boosted their price objective on Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup raised Warby Parker from a "sell" rating to a "neutral" rating and decreased their target price for the company from $23.00 to $17.00 in a research note on Wednesday, April 30th. Roth Capital raised Warby Parker to a "strong-buy" rating in a report on Monday, February 24th. JMP Securities cut their price objective on shares of Warby Parker from $30.00 to $22.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus lowered their target price on shares of Warby Parker from $25.00 to $18.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $22.13.

Warby Parker Stock Performance

WRBY opened at $20.70 on Wednesday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -77.00 and a beta of 2.01. The firm's fifty day moving average is $16.90 and its 200 day moving average is $21.58. Warby Parker has a fifty-two week low of $12.46 and a fifty-two week high of $28.68.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WRBY. Nuveen LLC acquired a new stake in Warby Parker in the 1st quarter valued at about $30,549,000. Durable Capital Partners LP increased its stake in shares of Warby Parker by 13.2% during the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company's stock worth $186,172,000 after buying an additional 1,194,558 shares during the period. 12 West Capital Management LP acquired a new stake in Warby Parker in the first quarter valued at approximately $21,420,000. Goldman Sachs Group Inc. lifted its stake in Warby Parker by 96.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company's stock worth $34,433,000 after acquiring an additional 929,073 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Warby Parker by 64.7% in the fourth quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock worth $51,916,000 after acquiring an additional 842,558 shares during the last quarter. 93.24% of the stock is currently owned by hedge funds and other 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.

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