Loop Capital Raises Warby Parker (NYSE:WRBY) Price Target to $16.00

Warby Parker (NYSE:WRBYGet Free Report) had its price target upped by research analysts at Loop Capital from $15.00 to $16.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Loop Capital’s target price suggests a potential upside of 1.78% from the company’s current price.

WRBY has been the topic of a number of other reports. Morgan Stanley lifted their price objective on shares of Warby Parker from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. UBS Group lifted their price objective on shares of Warby Parker from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Warby Parker presently has an average rating of “Hold” and an average price target of $16.43.

View Our Latest Report on Warby Parker

Warby Parker Trading Up 0.1 %

Shares of Warby Parker stock traded up $0.01 during mid-day trading on Wednesday, reaching $15.72. 136,107 shares of the stock were exchanged, compared to its average volume of 1,276,763. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -33.49 and a beta of 1.82. The firm has a 50-day simple moving average of $15.82 and a 200 day simple moving average of $14.16. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $17.95.

Warby Parker (NYSE:WRBYGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Warby Parker had a negative net margin of 7.89% and a negative return on equity of 13.19%. The company had revenue of $200.00 million for the quarter, compared to analyst estimates of $196.25 million. On average, research analysts predict that Warby Parker will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the completion of the sale, the insider now owns 9,444,023 shares of the company’s stock, valued at $147,893,400.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Warby Parker news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $15.66, for a total value of $86,130,000.00. Following the completion of the sale, the insider now owns 9,444,023 shares of the company’s stock, valued at $147,893,400.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 76,582 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $16.65, for a total value of $1,275,090.30. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $202,747.05. The disclosure for this sale can be found here. Insiders sold 5,848,537 shares of company stock valued at $91,938,722 over the last quarter. 26.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently bought and sold shares of WRBY. Vaughan Nelson Investment Management L.P. purchased a new stake in Warby Parker in the 1st quarter valued at $15,812,000. TimesSquare Capital Management LLC grew its stake in Warby Parker by 149.4% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock valued at $22,970,000 after purchasing an additional 1,011,030 shares during the period. Jennison Associates LLC bought a new position in Warby Parker in the 4th quarter valued at $12,034,000. Vanguard Group Inc. grew its stake in Warby Parker by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after purchasing an additional 607,352 shares during the period. Finally, Baillie Gifford & Co. grew its stake in Warby Parker by 6.3% in the 4th quarter. Baillie Gifford & Co. now owns 6,430,452 shares of the company’s stock valued at $90,669,000 after purchasing an additional 378,781 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

About Warby Parker

(Get Free Report)

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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