Warby Parker (NYSE:WRBY) Given a $30.00 Price Target by Robert W. Baird Analysts

Key Points

• Warby Parker's price target has been raised from $24.00 to $30.00 by Robert W. Baird, indicating a potential upside of 25.94% from the current stock price.
• Several analysts have differing views on Warby Parker, with Telsey Advisory Group lowering its target to $22.00 while Citigroup and Roth Capital have increased theirs to $22.00 and $21.00 respectively.
• Insider trading has seen significant activity, with the director and CEO selling shares valued at over $1.8 million collectively in recent transactions.

Warby Parker (NYSE:WRBY - Get Free Report) received a $30.00 price target from equities researchers at Robert W. Baird in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's target price suggests a potential upside of 27.44% from the company's current price.

Several other research firms have also commented on WRBY. Stifel Nicolaus increased their price objective on shares of Warby Parker from $18.00 to $21.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Citigroup reaffirmed a "neutral" rating and issued a $22.00 price objective (up from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. UBS Group cut their price target on shares of Warby Parker from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Cowen restated a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group raised their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $23.13.

Warby Parker Stock Performance

Shares of NYSE WRBY traded down $0.41 during trading on Wednesday, hitting $23.54. 315,321 shares of the company traded hands, compared to its average volume of 2,244,014. Warby Parker has a fifty-two week low of $12.46 and a fifty-two week high of $28.68. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -196.17 and a beta of 2.09. The business's fifty day moving average is $22.21 and its 200 day moving average is $21.14.

Insider Activity at Warby Parker

In other news, Director Youngme E. Moon sold 33,073 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total transaction of $658,152.70. Following the completion of the transaction, the director directly owned 53,869 shares of the company's stock, valued at $1,071,993.10. The trade was a 38.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 49,600 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $24.21, for a total transaction of $1,200,816.00. Following the transaction, the chief executive officer directly owned 28,347 shares of the company's stock, valued at $686,280.87. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,073 shares of company stock valued at $1,868,573 over the last three months. 18.24% of the stock is owned by corporate insiders.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. purchased a new position in shares of Warby Parker during the 4th quarter valued at $741,000. KLP Kapitalforvaltning AS purchased a new position in shares of Warby Parker during the 4th quarter valued at $421,000. LPL Financial LLC purchased a new position in Warby Parker during the fourth quarter valued at $476,000. Geode Capital Management LLC grew its stake in Warby Parker by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company's stock valued at $48,375,000 after acquiring an additional 27,004 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in Warby Parker by 103.4% during the fourth quarter. Wells Fargo & Company MN now owns 63,575 shares of the company's stock valued at $1,539,000 after acquiring an additional 32,315 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.