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

Warby Parker Inc. (NYSE:WRBY) has earned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $23.43.

Several research firms have recently weighed in on WRBY. JMP Securities boosted their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Monday, December 16th. Telsey Advisory Group reissued an “outperform” rating and set a $28.00 price target on shares of Warby Parker in a research report on Thursday, February 27th. Evercore ISI reaffirmed an “in-line” rating and issued a $23.00 price objective on shares of Warby Parker in a research report on Friday, January 17th. Roth Mkm started coverage on Warby Parker in a report on Tuesday, February 25th. They set a “neutral” rating and a $26.00 target price on the stock. Finally, UBS Group increased their price target on Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, February 28th.

Insiders Place Their Bets

In related news, CFO Steven Clive Miller sold 11,684 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the completion of the transaction, the chief financial officer now owns 204,727 shares of the company’s stock, valued at $4,815,179.04. The trade was a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $657,783.84. Following the sale, the chief executive officer now owns 23,961 shares in the company, valued at $563,562.72. The trade was a 53.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 389,651 shares of company stock worth $9,855,092 in the last quarter. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in Warby Parker by 3.2% during the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after acquiring an additional 69,108 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Warby Parker during the 3rd quarter valued at $495,000. Verition Fund Management LLC acquired a new position in Warby Parker in the 3rd quarter worth about $7,462,000. Shaker Investments LLC OH bought a new position in Warby Parker in the fourth quarter valued at about $279,000. Finally, Geode Capital Management LLC grew its holdings in shares of Warby Parker by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after purchasing an additional 144,623 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Trading Down 2.2 %

NYSE:WRBY opened at $19.04 on Friday. The stock has a market capitalization of $1.97 billion, a PE ratio of -70.51 and a beta of 1.91. Warby Parker has a 1-year low of $11.66 and a 1-year high of $28.68. The firm has a fifty day simple moving average of $23.72 and a 200 day simple moving average of $21.46.

About Warby Parker

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.