Warby Parker (NYSE:WRBY) Receives "Market Perform" Rating from JMP Securities

Warby Parker (NYSE:WRBY - Get Free Report)'s stock had its "market perform" rating reiterated by equities researchers at JMP Securities in a research note issued to investors on Thursday,Benzinga reports.

A number of other analysts have also weighed in on the stock. UBS Group cut their target price on shares of Warby Parker from $23.00 to $20.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Loop Capital reissued a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. TD Securities upped their price target on shares of Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group boosted their target price on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Citizens Jmp downgraded shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Warby Parker currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.88.

Warby Parker Stock Performance

Shares of Warby Parker stock opened at $21.57 on Thursday. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -179.33 and a beta of 2.09. Warby Parker has a fifty-two week low of $12.46 and a fifty-two week high of $28.68. The stock has a 50 day moving average of $20.32 and a 200 day moving average of $21.34.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total value of $658,152.70. Following the sale, the director directly owned 53,869 shares in the company, valued at $1,071,993.10. This represents a 38.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.24% of the stock is owned by insiders.

Institutional Trading of Warby Parker

Institutional investors and hedge funds have recently modified their holdings of the business. Nuveen LLC bought a new position in Warby Parker in the first quarter worth approximately $30,549,000. Durable Capital Partners LP grew its position in Warby Parker by 13.2% during the 1st quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company's stock worth $186,172,000 after purchasing an additional 1,194,558 shares during the period. 12 West Capital Management LP acquired a new stake in Warby Parker during the 1st quarter worth about $21,420,000. Goldman Sachs Group Inc. grew its position in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company's stock valued at $34,433,000 after acquiring an additional 929,073 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Warby Parker by 64.7% in the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock worth $51,916,000 after buying an additional 842,558 shares during 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.

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