Warby Parker Inc. (NYSE:WRBY) Receives Average Rating of “Moderate Buy” from Analysts

Warby Parker Inc. (NYSE:WRBY) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $20.73.

Several analysts have recently weighed in on the stock. BTIG Research lifted their target price on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their target price on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded 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. Finally, Telsey Advisory Group lifted their price objective on Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th.

Insider Buying and Selling at Warby Parker

In other Warby Parker 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 transaction of $167,331.60. Following the completion of the sale, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $287,986.05. The trade was a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,032 shares of company stock worth $2,503,303. 26.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Eagle Investment Management LLC bought a new position in Warby Parker in the second quarter valued at approximately $131,000. Choreo LLC bought a new position in shares of Warby Parker in the 2nd quarter worth $167,000. AQR Capital Management LLC bought a new position in shares of Warby Parker in the 2nd quarter worth $186,000. Thrivent Financial for Lutherans acquired a new stake in shares of Warby Parker during the third quarter worth $213,000. Finally, LVW Advisors LLC increased its holdings in Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Price Performance

Shares of Warby Parker stock opened at $24.29 on Wednesday. Warby Parker has a 52-week low of $11.35 and a 52-week high of $24.71. The firm has a market capitalization of $2.47 billion, a PE ratio of -89.96 and a beta of 1.93. The company’s fifty day moving average price is $20.11 and its two-hundred day moving average price is $17.05.

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.