Analysts Set Warby Parker Inc. (NYSE:WRBY) PT at $20.73

Warby Parker Inc. (NYSE:WRBY) has earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.73.

WRBY has been the subject of several analyst reports. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. BTIG Research raised their price objective on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Telsey Advisory Group upped their target price on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group raised their price target on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Robert W. Baird upped their price objective on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

Insider Transactions at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the business’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 value of $817,645.43. Following the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $275,321.97. The trade was a 74.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the transaction, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 558,032 shares of company stock worth $13,807,864 in the last quarter. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in shares of Warby Parker by 6.7% during the second quarter. Rhumbline Advisers now owns 125,302 shares of the company’s stock valued at $2,012,000 after buying an additional 7,820 shares during the period. Arizona State Retirement System lifted its stake in Warby Parker by 16.0% in the 2nd quarter. Arizona State Retirement System now owns 23,408 shares of the company’s stock worth $376,000 after purchasing an additional 3,224 shares in the last quarter. Quest Partners LLC boosted its holdings in Warby Parker by 30.0% in the 2nd quarter. Quest Partners LLC now owns 23,791 shares of the company’s stock valued at $382,000 after purchasing an additional 5,497 shares during the period. Choreo LLC purchased a new position in shares of Warby Parker during the 2nd quarter valued at $167,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Warby Parker by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after purchasing an additional 308,472 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Price Performance

NYSE:WRBY opened at $24.57 on Friday. Warby Parker has a one year low of $11.35 and a one year high of $27.10. The company has a market cap of $2.50 billion, a PE ratio of -91.00 and a beta of 1.88. The firm has a 50-day moving average of $23.52 and a 200-day moving average of $18.31.

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.