Warby Parker Inc. (NYSE:WRBY) Receives $18.82 Consensus PT from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have earned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $18.82.

A number of research firms have recently weighed in on WRBY. The Goldman Sachs Group upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and boosted their target price for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Stifel Nicolaus raised their target price on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Piper Sandler boosted 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. Finally, JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Friday, August 23rd.

Warby Parker Price Performance

Shares of NYSE WRBY opened at $24.04 on Friday. The firm’s 50 day simple moving average is $17.72 and its two-hundred day simple moving average is $16.33. Warby Parker has a one year low of $10.28 and a one year high of $24.52. The stock has a market capitalization of $2.44 billion, a P/E ratio of -89.04 and a beta of 1.80.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Monday, September 9th. The stock was sold at an average price of $13.89, for a total value of $694,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $169,138.53. The trade was a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the transaction, the chief financial officer now directly owns 184,251 shares in the company, valued at $2,395,263. The trade was a 7.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 over the last 90 days. 26.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently bought and sold shares of WRBY. SG Americas Securities LLC lifted its holdings in shares of Warby Parker by 610.3% in the second quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock worth $1,471,000 after buying an additional 78,702 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Warby Parker by 113.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock valued at $39,787,000 after purchasing an additional 1,315,672 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of Warby Parker during the 2nd quarter valued at about $1,465,000. Driehaus Capital Management LLC grew its position in shares of Warby Parker by 43.9% during the second quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock valued at $12,952,000 after purchasing an additional 246,011 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Warby Parker by 65.7% in the first quarter. Lazard Asset Management LLC now owns 579,310 shares of the company’s stock worth $7,884,000 after purchasing an additional 229,739 shares during the last quarter. 93.24% of the stock is owned by 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.