Brokerages Set Warby Parker Inc. (NYSE:WRBY) Target Price at $23.43

Warby Parker Inc. (NYSE:WRBY) has been given an average recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $23.43.

WRBY has been the topic of several analyst reports. Piper Sandler raised their price target on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Roth Mkm initiated coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They set a “neutral” rating and a $26.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group raised their price target on shares of Warby Parker from $20.00 to $26.00 and gave the company 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.

Warby Parker Price Performance

NYSE:WRBY opened at $23.56 on Monday. The firm has a market capitalization of $2.40 billion, a P/E ratio of -87.26 and a beta of 1.90. Warby Parker has a 1-year low of $11.35 and a 1-year high of $28.68. The company’s fifty day moving average price is $25.54 and its 200-day moving average price is $20.87.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $657,783.84. Following the transaction, the chief executive officer now directly owns 23,961 shares of the company’s stock, valued at $563,562.72. The trade was a 53.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of Warby Parker stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the transaction, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 584,983 shares of company stock valued at $14,692,676. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently bought and sold shares of WRBY. State Street Corp increased its position in shares of Warby Parker by 3.2% during the third 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 last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Warby Parker during the third quarter valued at about $1,223,000. TimesSquare Capital Management LLC grew its holdings in shares of Warby Parker by 12.8% in the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after purchasing an additional 211,050 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Warby Parker by 3.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after purchasing an additional 78,295 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Warby Parker by 20.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after purchasing an additional 300,891 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.