Warby Parker Inc. (NYSE:WRBY) Receives $24.75 Consensus Price Target from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have earned an average rating of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $24.75.

A number of research firms have weighed in on WRBY. Citizens Jmp downgraded Warby Parker from an “outperform” rating to a “market perform” rating in a report on Thursday, July 10th. Robert W. Baird set a $30.00 price objective on Warby Parker and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Zacks Research raised Warby Parker from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Warby Parker in a research note on Wednesday, October 8th. Finally, Cowen reaffirmed a “buy” rating on shares of Warby Parker in a research note on Friday, August 8th.

Warby Parker Stock Performance

WRBY stock opened at $21.53 on Tuesday. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $29.73. The business’s 50-day moving average is $26.04 and its two-hundred day moving average is $21.98. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -307.53 and a beta of 2.10.

Insider Transactions at Warby Parker

In other news, Director Teresa Briggs sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $23.56, for a total value of $141,360.00. Following the transaction, the director owned 44,879 shares of the company’s stock, valued at $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joel E. Cutler sold 35,000 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the transaction, the director directly owned 19,932 shares in the company, valued at $533,181. This trade represents a 63.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 190,600 shares of company stock valued at $4,910,337 over the last quarter. 18.24% of the stock is currently owned by company insiders.

Institutional Trading of Warby Parker

Institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in shares of Warby Parker by 259.3% during the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after purchasing an additional 861 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in shares of Warby Parker during the first quarter worth about $27,000. PNC Financial Services Group Inc. grew its holdings in Warby Parker by 400.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after buying an additional 1,281 shares in the last quarter. Huntington National Bank grew its holdings 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 buying an additional 881 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Warby Parker during the 1st quarter valued at approximately $58,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.