UBS Group Forecasts Strong Price Appreciation for Warby Parker (NYSE:WRBY) Stock

Warby Parker (NYSE:WRBY) had its price objective hoisted by UBS Group from $20.00 to $23.00 in a research note issued to investors on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

A number of other equities analysts also recently issued reports on WRBY. Morgan Stanley raised their price target on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Stifel Nicolaus raised their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird raised their price target on Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler raised their price target on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group raised their price target on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Warby Parker has a consensus rating of “Moderate Buy” and a consensus price target of $23.43.

Warby Parker Trading Up 1.9 %

Warby Parker stock opened at $24.77 on Friday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -91.75 and a beta of 1.90. Warby Parker has a 12 month low of $11.35 and a 12 month high of $28.68. The stock has a fifty day simple moving average of $25.62 and a two-hundred day simple moving average of $20.55.

Insider Activity at Warby Parker

In other news, CFO Steven Clive Miller sold 7,016 shares of the business’s 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business’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 completion of the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $336,206.97. The trade was a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 608,032 shares of company stock worth $15,188,364. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several large investors have recently made changes to their positions in WRBY. American Century Companies Inc. lifted its position in shares of Warby Parker by 64.7% in the fourth quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock valued at $51,916,000 after acquiring an additional 842,558 shares in the last quarter. Durable Capital Partners LP lifted its position in shares of Warby Parker by 10.3% in the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company’s stock valued at $218,322,000 after acquiring an additional 840,797 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Warby Parker in the fourth quarter valued at about $14,596,000. Verition Fund Management LLC purchased a new position in shares of Warby Parker in the third quarter valued at about $7,462,000. Finally, Symmetry Investments LP bought a new stake in shares of Warby Parker in the fourth quarter worth about $8,581,000. 93.24% of the stock is currently 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.