Warby Parker (NYSE:WRBY) Given "Market Perform" Rating at JMP Securities

JMP Securities reissued their market perform rating on shares of Warby Parker (NYSE:WRBY - Free Report) in a research report released on Thursday,Benzinga reports.

A number of other equities research analysts have also recently commented on WRBY. TD Securities lifted their price objective on Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Roth Capital reissued a "neutral" rating and issued a $21.00 target price (up previously from $18.00) on shares of Warby Parker in a research note on Thursday, May 22nd. Citigroup reissued a "neutral" rating and issued a $22.00 target price (up previously from $17.00) on shares of Warby Parker in a research note on Wednesday, May 21st. Telsey Advisory Group cut their target price on Warby Parker from $30.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Finally, The Goldman Sachs Group increased their target price on Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.88.

Warby Parker Stock Performance

WRBY traded down $0.01 during trading on Thursday, reaching $22.20. 1,121,219 shares of the company's stock were exchanged, compared to its average volume of 1,998,441. The company's fifty day moving average price is $20.54 and its 200-day moving average price is $21.24. The firm has a market capitalization of $2.32 billion, a PE ratio of -185.00 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.

Insider Activity at Warby Parker

In other news, Director Youngme E. Moon sold 33,073 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total transaction of $658,152.70. Following the sale, the director owned 53,869 shares of the company's stock, valued at $1,071,993.10. This trade represents a 38.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Several institutional investors have recently bought and sold shares of the company. Durable Capital Partners LP lifted its stake in Warby Parker by 13.2% in the 1st quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company's stock valued at $186,172,000 after acquiring an additional 1,194,558 shares in the last quarter. American Century Companies Inc. lifted its stake in Warby Parker by 14.6% in the 1st quarter. American Century Companies Inc. now owns 2,456,965 shares of the company's stock valued at $44,790,000 after acquiring an additional 312,543 shares in the last quarter. Jennison Associates LLC lifted its stake in Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after acquiring an additional 416,797 shares in the last quarter. Renaissance Technologies LLC grew its stake in Warby Parker by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company's stock valued at $48,478,000 after purchasing an additional 313,100 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Warby Parker by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company's stock worth $48,375,000 after purchasing an additional 27,004 shares during the last quarter. Institutional investors 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.