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

Shares of Warby Parker Inc. (NYSE:WRBY) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $23.50.

WRBY has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Piper Sandler cut their price target on Warby Parker from $30.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Evercore ISI reissued an “in-line” rating and issued a $23.00 target price on shares of Warby Parker in a report on Friday, January 17th. Telsey Advisory Group restated an “outperform” rating and set a $28.00 price objective on shares of Warby Parker in a research report on Thursday, February 27th. Finally, Loop Capital upgraded Warby Parker from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, April 17th.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $14.09 on Tuesday. Warby Parker has a one year low of $11.66 and a one year high of $28.68. The firm has a market cap of $1.46 billion, a PE ratio of -52.19 and a beta of 2.00. The firm has a fifty day moving average of $19.71 and a 200 day moving average of $21.60.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 11,684 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 $274,807.68. Following the completion of the sale, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. The trade was a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $657,783.84. Following the sale, the chief executive officer now owns 23,961 shares in the company, valued at $563,562.72. This trade represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,651 shares of company stock valued at $2,313,092. Insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently modified their holdings of WRBY. Global Retirement Partners LLC acquired a new stake in shares of Warby Parker in the fourth quarter valued at about $25,000. NewEdge Advisors LLC boosted its holdings in shares of Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,050 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after purchasing an additional 1,028 shares during the last quarter. Comerica Bank lifted its stake in Warby Parker by 153.1% in the fourth quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after buying an additional 1,386 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in Warby Parker in the 4th quarter worth about $69,000. 93.24% of the stock is 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.