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

Citizens Jmp lowered shares of Warby Parker (NYSE:WRBY - Free Report) from an outperform rating to a market perform rating in a report released on Thursday morning, Marketbeat.com reports.

WRBY has been the subject of several other reports. TD Securities raised their target price on shares of Warby Parker from $20.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. The Goldman Sachs Group raised their target price on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 9th. Roth Capital restated a "neutral" rating and set a $21.00 target price (up from $18.00) on shares of Warby Parker in a report on Thursday, May 22nd. Cowen restated a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. Finally, Loop Capital restated a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.88.

Warby Parker Stock Down 0.0%

Shares of NYSE WRBY traded down $0.01 during midday trading on Thursday, hitting $22.20. The company had a trading volume of 1,121,219 shares, compared to its average volume of 1,994,887. Warby Parker has a twelve month low of $12.46 and a twelve month high of $28.68. The business has a 50-day simple moving average of $20.54 and a two-hundred day simple moving average of $21.29. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -185.00 and a beta of 2.09.

Insider Activity at Warby Parker

In related news, Director Youngme E. Moon sold 33,073 shares of the firm'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 value of $658,152.70. Following the sale, the director directly owned 53,869 shares of the company's stock, valued at approximately $1,071,993.10. This trade represents a 38.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.24% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Warby Parker

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System acquired a new stake in shares of Warby Parker in the first quarter worth approximately $27,000. NewEdge Advisors LLC boosted its position in shares of Warby Parker by 700.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after acquiring an additional 1,028 shares during the last quarter. Comerica Bank boosted its position in shares of Warby Parker by 153.1% in the fourth quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after acquiring an additional 1,386 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Warby Parker in the first quarter worth approximately $58,000. 93.24% of the stock is owned by institutional investors and hedge funds.

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.