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

Shares of Warby Parker Inc. (NYSE:WRBY) have earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $18.82.

A number of analysts have recently issued reports on WRBY shares. Stifel Nicolaus boosted their price objective on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Telsey Advisory Group boosted their price target on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Friday, August 23rd. Finally, Robert W. Baird increased their price target 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.

Warby Parker Stock Down 5.2 %

Shares of WRBY opened at $22.90 on Friday. The stock’s 50-day moving average price is $17.90 and its 200 day moving average price is $16.40. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -84.07 and a beta of 1.80. Warby Parker has a 12-month low of $10.28 and a 12-month high of $24.60.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $13.89, for a total transaction of $694,500.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $169,138.53. This represents a 80.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,178 shares of company stock worth $1,339,901. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Warby Parker by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock worth $118,095,000 after buying an additional 219,120 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Warby Parker by 3.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after acquiring an additional 78,295 shares during the last quarter. State Street Corp lifted its stake in shares of Warby Parker by 3.2% during the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after acquiring an additional 69,108 shares during the period. Geode Capital Management LLC boosted its holdings in Warby Parker by 7.9% in the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock valued at $32,187,000 after acquiring an additional 144,623 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Warby Parker by 13.6% in the third quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock worth $31,666,000 after purchasing an additional 232,530 shares during the period. 93.24% of the stock is owned by institutional investors.

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.