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

Warby Parker Inc. (NYSE:WRBY) has been given an average recommendation of “Moderate Buy” by the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $27.3846.

Several research firms have weighed in on WRBY. Stifel Nicolaus boosted their target price on shares of Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, December 12th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a report on Tuesday, February 10th. BTIG Research increased their price objective on shares of Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Piper Sandler raised their target price on shares of Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Wall Street Zen downgraded Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st.

Warby Parker Trading Up 5.3%

Shares of WRBY opened at $22.50 on Monday. Warby Parker has a 52 week low of $13.63 and a 52 week high of $31.00. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 2,249.50 and a beta of 2.05. The stock has a 50 day moving average of $25.74 and a 200-day moving average of $24.09.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 150,000 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the completion of the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at $931,315.71. This represents a 80.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Youngme E. Moon sold 38,832 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the completion of the sale, the director directly owned 27,057 shares in the company, valued at $786,546.99. This represents a 58.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 359,424 shares of company stock worth $9,813,571 in the last 90 days. 18.24% of the stock is currently owned by company insiders.

Institutional Trading of Warby Parker

Several hedge funds have recently bought and sold shares of WRBY. First Horizon Corp grew its position in Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after purchasing an additional 595 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Warby Parker by 259.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after buying an additional 861 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Warby Parker by 400.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after acquiring an additional 1,281 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Warby Parker in the 4th quarter valued at approximately $35,000. Finally, Huntington National Bank raised its stake in Warby Parker by 111.0% during the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after acquiring an additional 881 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.