Warby Parker (NYSE:WRBY) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• Warby Parker received a "sell (D-)" rating from Weiss Ratings, reaffirming concerns about the stock's performance.
• Despite the bearish outlook from Weiss Ratings, other analysts have conflicting views, with eleven ratings for "Buy" and a consensus average target price of $24.75.
• Insider trading activity has been notable, with directors selling significant amounts of stock recently, indicating potential warnings about the company's current valuation.

Warby Parker (NYSE:WRBY - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms have also recently commented on WRBY. Wall Street Zen upgraded Warby Parker from a "hold" rating to a "buy" rating in a research note on Monday, September 15th. Telsey Advisory Group restated an "outperform" rating and issued a $28.00 target price on shares of Warby Parker in a research note on Thursday, August 7th. JMP Securities restated a "market perform" rating on shares of Warby Parker in a research note on Thursday, July 10th. The Goldman Sachs Group upped their price objective on Warby Parker from $27.00 to $31.00 and gave the stock a "buy" rating in a research note on Monday. Finally, Robert W. Baird set a $30.00 price objective on Warby Parker and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $24.75.

Warby Parker Stock Up 0.2%

Shares of WRBY traded up $0.04 on Wednesday, hitting $24.75. The company's stock had a trading volume of 822,660 shares, compared to its average volume of 2,105,435. The firm's fifty day moving average price is $26.22 and its 200-day moving average price is $21.83. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $29.73. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -353.45 and a beta of 2.10.

Insider Buying and Selling at Warby Parker

In related news, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $23.56, for a total value of $141,360.00. Following the transaction, the director owned 44,879 shares in the company, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joel E. Cutler sold 35,000 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the transaction, the director owned 19,932 shares in the company, valued at $533,181. The trade was a 63.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,000 shares of company stock valued at $4,919,941 in the last ninety days. 18.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in shares of Warby Parker by 121.9% during the second quarter. Osaic Holdings Inc. now owns 21,271 shares of the company's stock valued at $466,000 after purchasing an additional 11,684 shares in the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of Warby Parker during the second quarter valued at about $22,198,000. Headlands Technologies LLC boosted its stake in shares of Warby Parker by 981.3% during the second quarter. Headlands Technologies LLC now owns 6,077 shares of the company's stock valued at $133,000 after purchasing an additional 5,515 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Warby Parker by 36.9% in the second quarter. Tower Research Capital LLC TRC now owns 10,430 shares of the company's stock worth $229,000 after acquiring an additional 2,810 shares during the period. Finally, Corient Private Wealth LLC lifted its stake in shares of Warby Parker by 100.0% in the second quarter. Corient Private Wealth LLC now owns 242,444 shares of the company's stock worth $5,317,000 after acquiring an additional 121,213 shares during the period. 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.

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