Analysts Set Warby Parker Inc. (NYSE:WRBY) PT at $23.43

Warby Parker Inc. (NYSE:WRBY) has earned a consensus rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.43.

Several research analysts recently commented on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $28.00 price target on shares of Warby Parker in a report on Thursday, February 27th. The Goldman Sachs Group increased their price objective 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. Evercore ISI reissued an “in-line” rating and set a $23.00 price target on shares of Warby Parker in a research report on Friday, January 17th. Robert W. Baird raised their price objective on Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, Roth Capital upgraded Warby Parker to a “strong-buy” rating in a research note on Monday, February 24th.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 300,000 shares of Warby Parker stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $306,129.78. The trade was a 96.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of Warby Parker stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total value of $167,331.60. Following the completion of the transaction, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 546,667 shares of company stock worth $13,784,984 over the last ninety days. 26.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently bought and sold shares of WRBY. American Century Companies Inc. increased its stake in Warby Parker by 64.7% in the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock worth $51,916,000 after purchasing an additional 842,558 shares in the last quarter. Durable Capital Partners LP increased its stake in Warby Parker by 10.3% in the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company’s stock worth $218,322,000 after purchasing an additional 840,797 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Warby Parker in the 4th quarter worth about $14,596,000. Verition Fund Management LLC purchased a new position in Warby Parker in the 3rd quarter worth about $7,462,000. Finally, Symmetry Investments LP purchased a new position in Warby Parker in the 4th quarter worth about $8,581,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Price Performance

Shares of WRBY stock opened at $21.10 on Monday. Warby Parker has a 1-year low of $11.35 and a 1-year high of $28.68. The firm’s 50-day simple moving average is $25.36 and its 200-day simple moving average is $21.05. The firm has a market cap of $2.19 billion, a P/E ratio of -78.15 and a beta of 1.91.

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.