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

Shares of Warby Parker Inc. (NYSE:WRBY) have been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $18.82.

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price target for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Piper Sandler increased their target price on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upgraded Warby Parker from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, Stifel Nicolaus boosted their target price on shares of Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th.

Warby Parker Stock Performance

Shares of WRBY stock opened at $23.11 on Friday. The firm has a fifty day moving average of $17.37 and a 200-day moving average of $16.14. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -85.59 and a beta of 1.80. Warby Parker has a 52-week low of $10.28 and a 52-week high of $23.83.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $158,301. This trade represents a 69.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven Clive Miller sold 15,272 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the transaction, the chief financial officer now directly owns 184,251 shares in the company, valued at approximately $2,395,263. This represents a 7.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 in the last 90 days. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of Warby Parker during the second quarter worth approximately $131,000. Choreo LLC acquired a new position in Warby Parker in the second quarter valued at approximately $167,000. SG Americas Securities LLC bought a new position in Warby Parker in the first quarter valued at approximately $176,000. Finally, AQR Capital Management LLC acquired a new stake in Warby Parker during the 2nd quarter worth $186,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.