Robert W. Baird Issues Positive Forecast for Warby Parker (NYSE:WRBY) Stock Price

Warby Parker (NYSE:WRBY) had its price target hoisted by investment analysts at Robert W. Baird from $30.00 to $32.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 31.65% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $28.00 price objective on shares of Warby Parker in a research note on Thursday. Evercore ISI reiterated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. BTIG Research upped their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price target on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Warby Parker has an average rating of “Moderate Buy” and an average target price of $22.86.

Warby Parker Trading Up 2.3 %

WRBY stock opened at $24.31 on Friday. The firm has a 50-day moving average price of $25.62 and a 200-day moving average price of $20.55. Warby Parker has a 12 month low of $11.35 and a 12 month high of $28.68. The stock has a market capitalization of $2.47 billion, a P/E ratio of -90.02 and a beta of 1.90.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 7,016 shares of Warby Parker stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total value of $167,331.60. Following the completion of the transaction, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. This trade represents a 3.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $27.61, for a total value of $1,380,500.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $336,206.97. The trade was a 80.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 608,032 shares of company stock valued at $15,188,364. 26.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently added to or reduced their stakes in WRBY. Global Retirement Partners LLC bought a new position in shares of Warby Parker during the 4th quarter worth approximately $25,000. NewEdge Advisors LLC lifted its position in shares of Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,050 shares during the period. Jones Financial Companies Lllp boosted its stake in Warby Parker by 205.6% during 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 in the last quarter. Comerica Bank grew its holdings in 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 purchasing an additional 1,386 shares during the period. Finally, Anderson Financial Strategies LLC acquired a new stake in Warby Parker in the fourth quarter worth $69,000. 93.24% of the stock is currently owned by institutional investors.

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.