Warby Parker Inc. (NYSE:WRBY) Receives $24.06 Consensus Price Target from Analysts

Warby Parker Inc. (NYSE:WRBY) has received an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $24.0625.

Several research analysts have recently commented on the company. Cowen reiterated a “buy” rating on shares of Warby Parker in a research note on Friday, August 8th. BTIG Research reaffirmed a “buy” rating and set a $28.00 price objective (up from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Zacks Research upgraded shares of Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Telsey Advisory Group restated an “outperform” rating and set a $28.00 target price on shares of Warby Parker in a research note on Thursday, August 7th. Finally, Citizens Jmp lowered shares of Warby Parker from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 10th.

Warby Parker Stock Performance

Warby Parker stock opened at $27.50 on Friday. The stock has a 50-day simple moving average of $25.83 and a 200 day simple moving average of $21.43. The stock has a market capitalization of $2.89 billion, a P/E ratio of -392.73 and a beta of 2.10. Warby Parker has a 52 week low of $13.63 and a 52 week high of $29.73.

Insider Transactions at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 8,416 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.52, for a total value of $231,608.32. Following the transaction, the chief executive officer owned 32,733 shares of the company’s stock, valued at approximately $900,812.16. This represents a 20.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Teresa Briggs sold 6,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $23.56, for a total value of $141,360.00. Following the transaction, the director owned 44,879 shares in the company, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,000 shares of company stock worth $4,919,941 over the last quarter. Company insiders own 18.24% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently modified their holdings of WRBY. New York State Teachers Retirement System bought a new stake in Warby Parker in the 1st quarter valued at about $27,000. PNC Financial Services Group Inc. boosted its stake in shares of Warby Parker by 400.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after buying an additional 1,281 shares during the period. Huntington National Bank grew its position in Warby Parker by 111.0% during the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after buying an additional 881 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Warby Parker during the first quarter worth approximately $58,000. Finally, Anderson Financial Strategies LLC increased its stake in Warby Parker by 39.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company’s stock worth $72,000 after acquiring an additional 1,109 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.