Warby Parker (NYSE:WRBY) Lowered to Market Perform Rating by Citizens Jmp

Citizens Jmp downgraded shares of Warby Parker (NYSE:WRBY - Free Report) from an outperform rating to a market perform rating in a research note published on Thursday morning, MarketBeat reports.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their target price on shares of Warby Parker from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Citigroup reiterated a "neutral" rating and issued a $22.00 price objective (up previously from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. Roth Capital restated a "neutral" rating and set a $21.00 target price (up previously from $18.00) on shares of Warby Parker in a report on Thursday, May 22nd. 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, JMP Securities cut their price target 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. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Warby Parker currently has a consensus rating of "Moderate Buy" and an average target price of $22.88.

Warby Parker Stock Down 0.2%

Shares of NYSE:WRBY traded down $0.05 during trading on Thursday, hitting $22.23. 1,819,219 shares of the company's stock were exchanged, compared to its average volume of 1,995,069. The firm has a 50-day moving average price of $20.32 and a two-hundred day moving average price of $21.34. Warby Parker has a 1-year low of $12.46 and a 1-year high of $28.68.

Insider Activity

In related news, Director Youngme E. Moon sold 33,073 shares of the stock in a transaction 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 owned 53,869 shares in the company, valued at approximately $1,071,993.10. This represents a 38.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently modified their holdings of the business. New York State Teachers Retirement System bought a new stake in Warby Parker during the first quarter worth about $27,000. NewEdge Advisors LLC increased 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 worth $29,000 after purchasing an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of Warby Parker by 205.6% during the 4th 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 in the last quarter. Comerica Bank boosted its holdings in shares of Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after buying an additional 1,386 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Warby Parker in the first quarter valued at $58,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.