Warby Parker Inc. (NYSE:WRBY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $20.73.

Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group upped their target price on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Telsey Advisory Group increased their price objective on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Robert W. Baird increased their price objective on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th.

Warby Parker Stock Performance

WRBY opened at $25.28 on Friday. The firm’s 50-day simple moving average is $23.37 and its 200-day simple moving average is $18.23. Warby Parker has a twelve month low of $11.35 and a twelve month high of $27.10. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -93.63 and a beta of 1.88.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $287,986.05. This trade represents a 80.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 189,146 shares in the company, valued at $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 558,032 shares of company stock valued at $13,807,864. 26.55% of the stock is currently owned by insiders.

Institutional Trading of Warby Parker

A number of hedge funds have recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. raised its position 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 acquiring an additional 78,295 shares during the period. State Street Corp raised its position 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 acquiring an additional 69,108 shares during the period. Geode Capital Management LLC raised its position in shares of Warby Parker by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock valued at $32,187,000 after acquiring an additional 144,623 shares during the period. Jennison Associates LLC raised its position in shares of Warby Parker by 13.6% in the 3rd quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock valued at $31,666,000 after acquiring an additional 232,530 shares during the period. Finally, TimesSquare Capital Management LLC raised its position in shares of Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after acquiring an additional 211,050 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.