Warby Parker (NYSE:WRBY) Stock Rating Upgraded by Roth Capital

Warby Parker (NYSE:WRBY) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also commented on WRBY. Stifel Nicolaus boosted their price objective on shares of Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. JMP Securities boosted their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Monday, December 16th. Morgan Stanley boosted their price objective on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group boosted their price objective on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler boosted their price objective on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.21.

Warby Parker Trading Down 2.3 %

Shares of WRBY opened at $22.73 on Monday. The firm’s 50-day moving average price is $25.62 and its 200-day moving average price is $20.50. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -84.19 and a beta of 1.90. Warby Parker has a 1-year low of $11.35 and a 1-year high of $28.68.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $275,321.97. The trade was a 74.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 14,853 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 $335,826.33. Following the transaction, the chief financial officer now directly owns 189,146 shares of the company’s stock, valued at $4,276,591.06. The trade was a 7.28 % 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 valued at $15,188,364. Insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new stake in Warby Parker during the fourth quarter valued at approximately $25,000. NewEdge Advisors LLC grew its position in Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,050 shares during the period. Jones Financial Companies Lllp grew its position in Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after buying an additional 1,028 shares during the period. Comerica Bank grew its position in Warby Parker by 153.1% during the fourth 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 period. Finally, Anderson Financial Strategies LLC bought a new stake in Warby Parker during the fourth quarter valued at approximately $69,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.