Piper Sandler throws a cover on Warby Parker (NYSE: WRBY)


Piper Sandler started covering the shares of Warby Parker (NYSE: WRBY – Get a Note) in a research note published on Friday, reports The Fly. The company issued an overweight rating and a $20.00 price target on the stock.

Several other brokerages also commented on WRBY. Loop Capital reduced its price target on Warby Parker from $18.00 to $15.00 and set a holding rating on the stock in a research report on Monday, June 27. Robert W. Baird cut his price target on Warby Parker from $40.00 to $30.00 and set a na rating on the stock in a Tuesday, May 17 research report. Cowen cut his price target on Warby Parker to $23.00 and put an na rating on the stock in a Tuesday, May 17 research report. Citigroup cut its price target on Warby Parker shares from $41.00 to $29.00 and set a na rating on the stock in a Tuesday, May 17 report. Finally, Stifel Nicolaus reduced his price target on Warby Parker shares from $15.00 to $11.00 in a Wednesday, July 20 research report. Five research analysts gave the stock a hold rating and three gave the stock a buy rating. According to MarketBeat, Warby Parker currently has a consensus rating of Hold and an average price target of $27.18.

Warby Parker stock performance

NYSE WRBY shares opened at $12.59 on Friday. The stock’s 50-day simple moving average is $14.09 and its two-hundred-day simple moving average is $24.07. Warby Parker has a 12-month low of $10.86 and a 12-month high of $60.30.

Warby Parker (NYSE:WRBY – Get Rating) last announced his results on Monday, May 16. The company reported ($0.30) earnings per share for the quarter, missing analyst consensus estimates of ($0.01) by ($0.29). The company posted revenue of $153.20 million in the quarter, compared to analyst estimates of $154.08 million. The company’s revenue for the quarter increased by 10.2% compared to the same quarter last year. On average, equity analysts expect Warby Parker to post -0.73 EPS for the current fiscal year.

Insider Trading at Warby Parker

In other news, Chief Financial Officer Steven Clive Miller sold 7,053 shares of Warby Parker in a trade on Monday, June 13. The shares were sold at an average price of $13.42, for a total transaction of $94,651.26. Following the completion of the sale, the CFO now directly owns 158,369 shares of the company, valued at $2,125,311.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Separately, CFO Steven Clive Miller sold 7,053 shares of the company in a transaction on Monday, June 13. The shares were sold at an average price of $13.42, for a total transaction of $94,651.26. Following completion of the transaction, the CFO now directly owns 158,369 shares of the company, valued at $2,125,311.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO David Abraham Gilboa sold 5,224 shares of the company in a trade on Friday, June 10. The shares were sold at an average price of $14.64, for a total transaction of $76,479.36. As a result of the transaction, the CEO now owns 235 shares of the company, valued at $3,440.40. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 17,361 shares of the company worth $245,560. Insiders of the company own 25.36% of the shares of the company.

Institutional entries and exits

A number of institutional investors and hedge funds have recently increased or reduced their stake in the company. Durable Capital Partners LP increased its stake in Warby Parker by 42.3% in the first quarter. Durable Capital Partners LP now owns 14,808,493 shares of the company valued at $500,675,000 after purchasing an additional 4,405,581 shares last quarter. D1 Capital Partners LP increased its stake in Warby Parker shares by 64.4% during the fourth quarter. D1 Capital Partners LP now owns 13,404,023 shares of the company worth $624,091,000 after purchasing an additional 5,250,941 shares in the last quarter. Baillie Gifford & Co. increased its stake in Warby Parker shares by 11.0% during the first quarter. Baillie Gifford & Co. now owns 6,263,170 shares of the company worth $211,759,000 after purchasing an additional 620,709 shares last quarter. Capital Research Global Investors increased its stake in Warby Parker shares by 17.7% in the first quarter. Capital Research Global Investors now owns 5,372,629 shares of the company worth $181,649,000 after purchasing an additional 809,360 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Warby Parker shares by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,499,290 shares of the company worth $152,121,000 after purchasing an additional 14,620 shares in the last quarter. Hedge funds and other institutional investors own 98.59% of the company’s shares.

Warby Parker Company Profile

(Get a rating)

Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-sensitive lenses, blue light filtering lenses and contact lenses, as well as accessories including cases, a lens kit with anti-fog spray, pouches and anti-fog lens spray. The company also offers eye exams and vision testing directly to consumers through its retail stores, website and mobile apps.

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