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

Warby Parker Inc. (NYSE:WRBY) has received a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $22.56.

A number of equities research analysts have issued reports on WRBY shares. TD Securities upped their price objective on shares of Warby Parker from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday. Loop Capital reaffirmed a “buy” rating on shares of Warby Parker in a report on Wednesday. Citigroup reissued a “neutral” rating and set a $22.00 target price (up previously from $17.00) on shares of Warby Parker in a report on Wednesday. Stifel Nicolaus increased their target price on Warby Parker from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, UBS Group reduced their price target on Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th.

Insider Activity

In related news, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now owns 204,727 shares of the company’s stock, valued at $4,815,179.04. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were 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. The trade was a 53.86% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen LLC purchased a new position in shares of Warby Parker during the 1st quarter valued at about $30,549,000. Durable Capital Partners LP grew its position in Warby Parker by 13.2% during the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company’s stock valued at $186,172,000 after acquiring an additional 1,194,558 shares during the last quarter. 12 West Capital Management LP bought a new stake in shares of Warby Parker in the 1st quarter worth approximately $21,420,000. Goldman Sachs Group Inc. lifted its holdings in shares of Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after acquiring an additional 929,073 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Warby Parker by 64.7% in the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock valued at $51,916,000 after purchasing an additional 842,558 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Warby Parker Stock Down 1.6%

WRBY stock opened at $19.84 on Friday. The stock’s 50 day moving average is $16.93 and its 200-day moving average is $21.60. Warby Parker has a twelve month low of $12.46 and a twelve month high of $28.68. The firm has a market capitalization of $2.07 billion, a PE ratio of -73.48 and a beta of 2.01.

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.