Warby Parker Inc. (NYSE:WRBY) Receives $20.73 Average PT from Analysts

Warby Parker Inc. (NYSE:WRBY) has earned an average rating of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.73.

A number of equities research analysts have weighed in on the company. Piper Sandler boosted their price objective on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus increased their price target on shares of Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. BTIG Research raised their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.00 to $18.00 in a report on Monday, October 21st. Finally, William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 56,054 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $25.09, for a total value of $1,406,394.86. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $305,520.93. This trade represents a 82.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $335,826.33. Following the transaction, the chief financial officer now directly owns 189,146 shares in the company, valued at approximately $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,086 shares of company stock worth $3,909,698. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Eagle Investment Management LLC acquired a new stake in shares of Warby Parker in the 2nd quarter worth approximately $131,000. Choreo LLC purchased a new stake in Warby Parker during the second quarter worth $167,000. AQR Capital Management LLC acquired a new stake in Warby Parker in the second quarter valued at $186,000. Thrivent Financial for Lutherans purchased a new position in shares of Warby Parker in the third quarter valued at $213,000. Finally, LVW Advisors LLC raised its stake in shares of Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after buying an additional 3,500 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Stock Performance

Warby Parker stock opened at $25.72 on Wednesday. The stock has a 50-day simple moving average of $21.19 and a 200-day simple moving average of $17.37. The company has a market capitalization of $2.61 billion, a P/E ratio of -95.26 and a beta of 1.93. Warby Parker has a fifty-two week low of $11.35 and a fifty-two week high of $25.89.

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.