Warby Parker Inc. (NYSE:WRBY) Given Average Rating of “Moderate Buy” by Brokerages

Warby Parker Inc. (NYSE:WRBY) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $27.8333.

Several equities research analysts recently weighed in on WRBY shares. Piper Sandler upped their target price on Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Telsey Advisory Group reissued an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a report on Friday. 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 report on Wednesday, December 10th. Stifel Nicolaus lifted their target price on shares of Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, December 12th. Finally, Wall Street Zen cut shares of Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 150,000 shares of the company’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 approximately $931,315.71. This represents a 80.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joel E. Cutler sold 19,932 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total transaction of $518,431.32. Following the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $520,200. The trade was a 49.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 359,424 shares of company stock valued at $9,813,571. 18.24% of the stock is currently owned by company insiders.

Institutional Trading of Warby Parker

Several large investors have recently made changes to their positions in the business. Compass Wealth Management LLC bought a new stake in Warby Parker in the third quarter valued at approximately $2,184,000. Impax Asset Management Group plc grew its holdings in shares of Warby Parker by 28.3% in the 3rd quarter. Impax Asset Management Group plc now owns 385,000 shares of the company’s stock valued at $10,618,000 after buying an additional 85,000 shares during the period. Ranger Investment Management L.P. acquired a new position in shares of Warby Parker in the 2nd quarter valued at $22,198,000. New York State Common Retirement Fund increased its position in shares of Warby Parker by 1,112.3% in the 2nd quarter. New York State Common Retirement Fund now owns 353,091 shares of the company’s stock valued at $7,743,000 after buying an additional 323,965 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Warby Parker by 40.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock valued at $201,426,000 after buying an additional 2,120,768 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

NYSE WRBY opened at $23.71 on Monday. The stock has a market capitalization of $2.51 billion, a PE ratio of 2,370.70 and a beta of 2.05. The stock has a 50-day simple moving average of $25.39 and a 200 day simple moving average of $24.05. Warby Parker has a twelve month low of $13.63 and a twelve month high of $31.00.

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.