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

Warby Parker Inc. (NYSE:WRBY) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $20.73.

WRBY has been the subject of a number of recent analyst reports. Telsey Advisory Group lifted their price target on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. JMP Securities lifted their target price on shares of Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Piper Sandler upped their price target on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Robert W. Baird lifted their price objective on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, BTIG Research boosted their price objective on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, 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 value of $335,826.33. Following the sale, the chief financial officer now directly owns 189,146 shares of the company’s stock, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 56,054 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $25.09, for a total transaction of $1,406,394.86. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at $305,520.93. The trade was a 82.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,086 shares of company stock valued at $3,909,698 in the last quarter. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Warby Parker by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after acquiring an additional 144,623 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Warby Parker in the third quarter valued at approximately $318,000. XTX Topco Ltd increased its stake in Warby Parker by 71.8% in the third quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock valued at $721,000 after purchasing an additional 18,443 shares during the last quarter. State Street Corp raised its holdings in Warby Parker by 3.2% during the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after purchasing an additional 69,108 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its position in shares of Warby Parker by 12.0% during the 3rd quarter. Invenomic Capital Management LP now owns 383,877 shares of the company’s stock worth $6,269,000 after buying an additional 41,110 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Trading Up 2.6 %

Shares of NYSE:WRBY opened at $25.72 on Wednesday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -95.26 and a beta of 1.93. Warby Parker has a 12-month low of $11.35 and a 12-month high of $25.89. The business has a 50-day moving average price of $21.19 and a 200 day moving average price of $17.37.

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.