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

Warby Parker (NYSE:WRBY - Get Free Report) had its price objective hoisted by stock analysts at TD Securities from $20.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Securities' target price indicates a potential upside of 20.97% from the company's current price.

Several other research firms have also recently issued reports on WRBY. Citigroup raised Warby Parker from a "sell" rating to a "neutral" rating and dropped their price target for the company from $23.00 to $17.00 in a report on Wednesday, April 30th. Stifel Nicolaus decreased their target price on shares of Warby Parker from $25.00 to $18.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. JMP Securities lowered 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 research report on Monday, April 14th. Morgan Stanley raised their price target on shares of Warby Parker from $17.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Finally, Robert W. Baird boosted their price target on shares of Warby Parker from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.56.

Warby Parker Stock Performance

Shares of WRBY traded down $0.33 during mid-day trading on Wednesday, reaching $19.84. 3,398,272 shares of the company's stock traded hands, compared to its average volume of 1,899,773. Warby Parker has a 12 month low of $12.46 and a 12 month high of $28.68. The business's 50-day moving average price is $16.93 and its 200-day moving average price is $21.63. The stock has a market capitalization of $2.07 billion, a P/E ratio of -73.48 and a beta of 2.01.

Insider Buying and Selling

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

Institutional Investors Weigh In On Warby Parker

Several institutional investors have recently bought and sold shares of WRBY. Global Retirement Partners LLC purchased a new position in Warby Parker in the fourth quarter valued at approximately $25,000. New York State Teachers Retirement System bought a new position in Warby Parker in the 1st quarter valued at $27,000. NewEdge Advisors LLC grew its position in shares of Warby Parker by 700.0% during 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 in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Warby Parker by 205.6% in the fourth 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 during the period. Finally, Comerica Bank raised its position in shares of Warby Parker by 153.1% in the fourth quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after buying an additional 1,386 shares in the last quarter. Institutional investors own 93.24% of the company's stock.

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.