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

Warby Parker Inc. (NYSE:WRBY) has been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $21.77.

A number of research analysts have commented on the stock. Citigroup reaffirmed a “sell” rating and set a $23.00 price objective (up from $19.00) on shares of Warby Parker in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Piper Sandler boosted their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Morgan Stanley boosted their target price on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Telsey Advisory Group boosted their price target on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th.

Warby Parker Price Performance

Shares of WRBY stock opened at $26.88 on Thursday. The stock has a market cap of $2.73 billion, a P/E ratio of -99.54 and a beta of 1.90. The stock has a fifty day moving average price of $25.06 and a 200 day moving average price of $19.50. Warby Parker has a one year low of $11.35 and a one year high of $28.68.

Insider Transactions at Warby Parker

In related news, CFO Steven Clive Miller sold 7,016 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the transaction, the chief financial officer now owns 182,130 shares in the company, valued at approximately $4,343,800.50. This represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on 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 completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at $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. Insiders sold 608,032 shares of company stock valued at $15,188,364 over the last quarter. Corporate insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Large investors have recently made changes to their positions in the stock. State Street Corp raised its stake in Warby Parker by 3.2% in the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after acquiring an additional 69,108 shares during the period. Blueshift Asset Management LLC acquired a new position in shares of Warby Parker in the third quarter valued at $1,223,000. TimesSquare Capital Management LLC lifted its stake in shares of Warby Parker by 12.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after buying an additional 211,050 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Warby Parker by 3.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after buying an additional 78,295 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in Warby Parker by 20.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after buying an additional 300,891 shares during the last quarter. Institutional investors and hedge funds 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.