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

Warby Parker Inc. (NYSE:WRBY) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $20.73.

WRBY has been the subject of several recent research reports. BTIG Research boosted their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Robert W. Baird boosted their target price on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group boosted their target price on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the transaction, the chief financial officer now directly owns 189,146 shares in the company, valued at $4,276,591.06. This represents a 7.28 % decrease in their position. 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 300,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $306,129.78. This represents a 96.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 558,032 shares of company stock worth $13,807,864 in the last ninety days. 26.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its stake in shares of 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 buying an additional 69,108 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Warby Parker in the 3rd quarter valued at $1,223,000. Maverick Capital Ltd. acquired a new position in shares of Warby Parker in the 2nd quarter valued at $1,465,000. Driehaus Capital Management LLC raised its stake in shares of Warby Parker by 43.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock valued at $12,952,000 after buying an additional 246,011 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after buying an additional 78,295 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Stock Down 5.0 %

WRBY stock opened at $25.28 on Friday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -93.63 and a beta of 1.88. Warby Parker has a 12 month low of $11.35 and a 12 month high of $27.10. The firm has a 50 day moving average of $23.37 and a two-hundred day moving average of $18.23.

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.