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

Warby Parker Inc. (NYSE:WRBY) has been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $23.43.

WRBY has been the topic of a number of recent analyst reports. Evercore ISI reaffirmed an “in-line” rating and issued a $23.00 price objective on shares of Warby Parker in a research note on Friday, January 17th. Roth Capital upgraded shares of Warby Parker to a “strong-buy” rating in a research report on Monday, February 24th. JMP Securities increased 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 report on Monday, December 16th. Robert W. Baird lifted their target price on shares of Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, UBS Group upped their price target on shares of Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, February 28th.

Insider Activity

In other news, CFO Steven Clive Miller sold 11,684 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the sale, the chief financial officer now directly 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 legal filing with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 300,000 shares of the firm’s stock in a transaction dated 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 directly owns 12,177 shares in the company, valued at approximately $306,129.78. The trade was a 96.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 389,651 shares of company stock worth $9,855,092 in the last three months. Company 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 WRBY. Global Retirement Partners LLC purchased a new position in shares of Warby Parker during the fourth quarter valued at approximately $25,000. NewEdge Advisors LLC lifted its stake in Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,050 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock worth $37,000 after acquiring an additional 1,028 shares during the last quarter. Comerica Bank grew its stake in shares of Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock worth $55,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Warby Parker in the fourth quarter valued at about $69,000. 93.24% of the stock is owned by institutional investors.

Warby Parker Trading Down 2.2 %

Shares of WRBY opened at $19.04 on Friday. The company has a market capitalization of $1.97 billion, a PE ratio of -70.51 and a beta of 1.91. The stock’s 50-day moving average price is $23.72 and its two-hundred day moving average price is $21.46. Warby Parker has a 12 month low of $11.66 and a 12 month high of $28.68.

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.