Warby Parker Inc. (NYSE:WRBY) Receives $27.83 Average PT from Analysts

Shares of Warby Parker Inc. (NYSE:WRBY) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $27.8333.

WRBY has been the subject of a number of recent research reports. Citizens Jmp raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Wednesday, December 10th. Citigroup upgraded Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Stifel Nicolaus raised their price target on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. UBS Group reissued a “neutral” rating and issued a $20.00 price target on shares of Warby Parker in a report on Wednesday, February 25th. Finally, Weiss Ratings downgraded Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 2nd.

Warby Parker Trading Up 2.4%

Shares of WRBY opened at $24.08 on Friday. Warby Parker has a 12-month low of $13.63 and a 12-month high of $31.00. The stock has a market cap of $2.57 billion, a P/E ratio of 1,204.80 and a beta of 2.05. The company has a 50-day moving average of $25.38 and a two-hundred day moving average of $23.95.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the sale, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at $931,315.71. This trade represents a 80.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bradley E. Singer sold 15,793 shares of Warby Parker stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total transaction of $434,781.29. Following the sale, the director owned 16,026 shares of the company’s stock, valued at approximately $441,195.78. This trade represents a 49.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 236,385 shares of company stock valued at $6,090,506. 18.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Warby Parker

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in Warby Parker by 259.3% during the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after acquiring an additional 861 shares during the last quarter. First Horizon Corp raised its holdings in Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after acquiring an additional 595 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Warby Parker during the 4th quarter worth $35,000. PNC Financial Services Group Inc. boosted its holdings in shares of Warby Parker by 400.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock worth $35,000 after purchasing an additional 1,281 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Warby Parker by 56.7% during the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after purchasing an additional 850 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.