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

Warby Parker Inc. (NYSE:WRBY) has received an average rating of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat.com 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 twelve-month target price among analysts that have issued ratings on the stock in the last year is $20.73.

WRBY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised 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. Robert W. Baird boosted their target price on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Telsey Advisory Group lifted their price objective on Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, Stifel Nicolaus increased their target price on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the sale, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at $4,343,800.50. The trade was a 3.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $287,986.05. This represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,032 shares of company stock valued at $2,503,303 in the last quarter. 26.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Warby Parker by 7.9% during the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after buying an additional 144,623 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Warby Parker during the 3rd quarter worth about $318,000. XTX Topco Ltd raised its holdings in shares of Warby Parker by 71.8% in the 3rd quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock valued at $721,000 after purchasing an additional 18,443 shares during the period. State Street Corp lifted its stake in Warby Parker by 3.2% in the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after purchasing an additional 69,108 shares during the last quarter. Finally, Invenomic Capital Management LP grew its holdings in Warby Parker by 12.0% during the third quarter. Invenomic Capital Management LP now owns 383,877 shares of the company’s stock worth $6,269,000 after purchasing an additional 41,110 shares during the period. Institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $24.29 on Wednesday. Warby Parker has a 52-week low of $11.35 and a 52-week high of $24.71. The stock has a market cap of $2.47 billion, a P/E ratio of -89.96 and a beta of 1.93. The firm has a 50 day moving average price of $20.11 and a 200 day moving average price of $17.05.

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.