Warby Parker’s (WRBY) “Sell” Rating Reaffirmed at Citigroup

Warby Parker (NYSE:WRBY)‘s stock had its “sell” rating reaffirmed by stock analysts at Citigroup in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $23.00 target price on the stock, up from their previous target price of $19.00. Citigroup’s target price points to a potential downside of 14.43% from the stock’s current price.

WRBY has been the topic of a number of other research reports. Telsey Advisory Group lifted their price target on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. JMP Securities increased their target price on Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Morgan Stanley boosted their price target on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. The Goldman Sachs Group increased their price objective on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.77.

Warby Parker Stock Down 1.6 %

Shares of Warby Parker stock opened at $26.88 on Wednesday. The business has a fifty day simple moving average of $24.99 and a 200 day simple moving average of $19.45. The stock has a market cap of $2.73 billion, a PE ratio of -99.56 and a beta of 1.90. Warby Parker has a 12 month low of $11.35 and a 12 month high of $28.68.

Insider Buying and Selling at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. This represents a 80.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Clive Miller sold 14,853 shares of the business’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 transaction, the chief financial officer now directly owns 189,146 shares of the company’s stock, valued at approximately $4,276,591.06. The trade was a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 608,032 shares of company stock valued at $15,188,364 in the last ninety days. 26.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in shares of Warby Parker during the fourth quarter worth $25,000. KBC Group NV grew its holdings in Warby Parker by 39.3% during the 4th quarter. KBC Group NV now owns 4,743 shares of the company’s stock worth $115,000 after acquiring an additional 1,339 shares during the period. Shaker Investments LLC OH bought a new position in shares of Warby Parker in the 4th quarter worth about $279,000. AQR Capital Management LLC acquired a new position in shares of Warby Parker in the 2nd quarter valued at about $186,000. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Warby Parker during the 3rd quarter valued at about $213,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.