Warby Parker (NYSE:WRBY) Rating Reiterated by Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research note released on Thursday morning, Benzinga reports. They currently have a $19.00 price objective on the stock.

Several other brokerages also recently issued reports on WRBY. Morgan Stanley lifted their target price on Warby Parker from $13.00 to $14.00 and gave the company an equal weight rating in a research note on Friday, May 10th. UBS Group lifted their price objective on shares of Warby Parker from $13.00 to $15.00 and gave the company a neutral rating in a research report on Friday, May 10th. Finally, Loop Capital upped their target price on shares of Warby Parker from $15.00 to $16.00 and gave the stock a hold rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $16.57.

Warby Parker Price Performance

Shares of NYSE WRBY opened at $13.16 on Thursday. Warby Parker has a 1 year low of $9.83 and a 1 year high of $17.95. The firm has a fifty day moving average price of $15.96 and a 200-day moving average price of $14.47.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The business had revenue of $200.00 million during the quarter, compared to analyst estimates of $196.25 million. As a group, equities analysts expect that Warby Parker will post -0.09 EPS for the current year.

Insider Transactions at Warby Parker

In other news, Director Teresa Briggs sold 7,396 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $16.31, for a total transaction of $120,628.76. Following the completion of the transaction, the director now directly owns 38,859 shares in the company, valued at approximately $633,790.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Teresa Briggs sold 7,396 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $16.31, for a total value of $120,628.76. Following the sale, the director now directly owns 38,859 shares in the company, valued at approximately $633,790.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the 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 transaction, the insider now directly owns 9,444,023 shares of the company’s stock, valued at approximately $147,893,400.18. The disclosure for this sale can be found here. Insiders have sold 5,848,537 shares of company stock valued at $91,938,722 in the last ninety days. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several large investors have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. boosted its stake in Warby Parker by 113.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after buying an additional 1,315,672 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after purchasing an additional 1,011,030 shares during the period. Jennison Associates LLC bought a new position in Warby Parker during the 4th quarter valued at about $12,034,000. Vanguard Group Inc. raised its position in Warby Parker by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after purchasing an additional 607,352 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after purchasing an additional 481,900 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.