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

Shares of Warby Parker Inc. (NYSE:WRBY) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $21.77.

Several analysts recently weighed in on WRBY shares. Stifel Nicolaus upped their price objective on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Robert W. Baird boosted their price objective on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. BTIG Research raised their price target on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and boosted their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st.

Insider Activity

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $335,826.33. Following the sale, the chief financial officer now directly owns 189,146 shares of the company’s stock, valued at $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $817,645.43. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at $275,321.97. The trade was a 74.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 608,032 shares of company stock worth $15,188,364 over the last quarter. Insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in Warby Parker in the fourth quarter worth $25,000. KBC Group NV increased its position in shares of Warby Parker by 39.3% during the fourth quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $115,000 after buying an additional 1,339 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Warby Parker by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock valued at $782,000 after buying an additional 1,556 shares during the period. Rhumbline Advisers boosted its position in shares of Warby Parker by 2.2% during the fourth quarter. Rhumbline Advisers now owns 123,915 shares of the company’s stock valued at $3,000,000 after purchasing an additional 2,634 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Warby Parker by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock worth $717,000 after acquiring an additional 3,007 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Down 0.0 %

WRBY stock opened at $26.88 on Thursday. Warby Parker has a 12 month low of $11.35 and a 12 month high of $28.68. The firm has a market cap of $2.73 billion, a P/E ratio of -99.54 and a beta of 1.90. The company’s 50-day moving average price is $25.06 and its two-hundred day moving average price is $19.50.

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.