Brokerages Set Warby Parker Inc. (NYSE:WRBY) PT at $18.82

Warby Parker Inc. (NYSE:WRBY) has received a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $18.82.

WRBY has been the subject of several research reports. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Friday, August 23rd. Robert W. Baird raised their price target on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft upgraded shares of 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 report on Monday, October 21st. Finally, Stifel Nicolaus increased their target price on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $24.04 on Friday. The business has a 50 day simple moving average of $17.72 and a two-hundred day simple moving average of $16.33. Warby Parker has a 1 year low of $10.28 and a 1 year high of $24.52. The firm has a market capitalization of $2.44 billion, a PE ratio of -89.04 and a beta of 1.80.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 15,272 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the sale, the chief financial officer now directly owns 184,251 shares in the company, valued at approximately $2,395,263. The trade was a 7.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $352,859.00. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $158,301. This trade represents a 69.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

Several large investors have recently made changes to their positions in WRBY. ProShare Advisors LLC boosted its holdings in Warby Parker by 10.2% during the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock valued at $211,000 after acquiring an additional 1,434 shares during the period. Janney Montgomery Scott LLC boosted its position in Warby Parker by 3.4% in the 3rd 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. Advisors Asset Management Inc. grew its stake in shares of Warby Parker by 79.9% in the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after acquiring an additional 2,276 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Warby Parker by 11.5% during the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock worth $413,000 after acquiring an additional 2,651 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Warby Parker by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock valued at $717,000 after acquiring an additional 3,007 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.