Warby Parker (NYSE:WRBY) Given New $20.00 Price Target at Stifel Nicolaus

Warby Parker (NYSE:WRBY) had its price objective hoisted by investment analysts at Stifel Nicolaus from $17.00 to $20.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential downside of 16.07% from the company’s current price.

Several other research analysts have also recently weighed in on the company. BTIG Research boosted their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Robert W. Baird upped their price target on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $18.00 in a research report on Monday, October 21st. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research report on Friday, August 23rd. Finally, William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Warby Parker Stock Up 1.3 %

WRBY stock traded up $0.30 during midday trading on Wednesday, hitting $23.83. The company’s stock had a trading volume of 211,341 shares, compared to its average volume of 1,429,577. The stock’s 50-day moving average price is $19.47 and its 200 day moving average price is $16.87. Warby Parker has a 1 year low of $10.80 and a 1 year high of $24.60. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -88.70 and a beta of 1.93.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $275,321.97. This represents a 74.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the transaction, the chief financial officer now 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. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC purchased a new position in shares of Warby Parker in the 2nd quarter worth about $131,000. Choreo LLC purchased a new stake in Warby Parker during the 2nd quarter valued at about $167,000. AQR Capital Management LLC purchased a new stake in Warby Parker during the 2nd quarter valued at about $186,000. Thrivent Financial for Lutherans purchased a new stake in Warby Parker during the 3rd quarter valued at about $213,000. Finally, LVW Advisors LLC boosted its holdings in Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after acquiring an additional 3,500 shares during the period. 93.24% of the stock is currently owned by hedge funds and other 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.