Warby Parker (NYSE:WRBY) Stock Rating Lowered by Citizens Jmp

Warby Parker (NYSE:WRBY - Get Free Report) was downgraded by equities researchers at Citizens Jmp from an "outperform" rating to a "market perform" rating in a research note issued on Thursday,Finviz reports.

A number of other analysts have also commented on WRBY. Cowen restated a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. UBS Group decreased their price target on shares of Warby Parker from $23.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. JMP Securities cut their price objective 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. Citigroup restated a "neutral" rating and set a $22.00 target price (up previously from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. Finally, Stifel Nicolaus increased their price objective on shares of Warby Parker from $18.00 to $21.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Warby Parker presently has a consensus rating of "Moderate Buy" and an average price target of $22.88.

Warby Parker Price Performance

NYSE WRBY opened at $22.28 on Thursday. The stock's 50 day simple moving average is $20.32 and its 200 day simple moving average is $21.34. Warby Parker has a one year low of $12.46 and a one year high of $28.68. The firm has a market cap of $2.33 billion, a PE ratio of -185.67 and a beta of 2.09.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total transaction of $658,152.70. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 18.24% of the company's stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently modified their holdings of the stock. Durable Capital Partners LP boosted its holdings in shares of 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 buying an additional 1,194,558 shares during the period. American Century Companies Inc. lifted its position in Warby Parker by 14.6% during the first quarter. American Century Companies Inc. now owns 2,456,965 shares of the company's stock worth $44,790,000 after acquiring an additional 312,543 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Warby Parker by 23.7% during the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock worth $39,635,000 after acquiring an additional 416,797 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Warby Parker by 1.4% during the fourth 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 period. 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.

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