Roth Mkm Begins Coverage on Warby Parker (NYSE:WRBY)

Equities research analysts at Roth Mkm started coverage on shares of Warby Parker (NYSE:WRBY) in a research report issued on Tuesday, MarketBeat.com reports. The firm set a “neutral” rating and a $26.00 price target on the stock. Roth Mkm’s target price would suggest a potential upside of 9.75% from the company’s current price.

A number of other equities analysts have also recently commented on WRBY. Stifel Nicolaus lifted their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. The Goldman Sachs Group lifted their price target on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Piper Sandler lifted their price target on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Morgan Stanley lifted their price target on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.21.

Warby Parker Stock Performance

Warby Parker stock opened at $23.69 on Tuesday. Warby Parker has a 52 week low of $11.35 and a 52 week high of $28.68. The stock has a market capitalization of $2.41 billion, a P/E ratio of -87.74 and a beta of 1.90. The stock has a 50-day simple moving average of $25.61 and a 200 day simple moving average of $20.52.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the transaction, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $817,645.43. Following the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $275,321.97. This represents a 74.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 608,032 shares of company stock worth $15,188,364. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WRBY. Janney Montgomery Scott LLC raised its position in Warby Parker by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock valued at $782,000 after purchasing an additional 1,556 shares in the last quarter. AIA Group Ltd raised its position in Warby Parker by 12.2% during the third quarter. AIA Group Ltd now owns 182,573 shares of the company’s stock valued at $2,981,000 after purchasing an additional 19,923 shares in the last quarter. TimesSquare Capital Management LLC raised its position in Warby Parker by 12.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after purchasing an additional 211,050 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Warby Parker during the third quarter valued at approximately $372,000. Finally, Natixis Advisors LLC increased its holdings in shares of Warby Parker by 4.7% during the third quarter. Natixis Advisors LLC now owns 466,413 shares of the company’s stock worth $7,617,000 after buying an additional 21,121 shares in the last quarter. 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.