Warby Parker Inc. (NYSE:WRBY) Receives $30.18 Average PT from Analysts

Shares of Warby Parker Inc. (NYSE:WRBY) have received an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $30.1818.

A number of research analysts recently issued reports on the stock. Citizens Jmp dropped their target price on shares of Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Roth Capital restated a “neutral” rating and issued a $28.00 price target on shares of Warby Parker in a report on Wednesday, August 5th. Bank of America began coverage on shares of Warby Parker in a research note on Monday, June 29th. They issued a “buy” rating and a $33.00 price target for the company. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a report on Friday, August 7th.

Warby Parker Stock Performance

Warby Parker stock opened at $25.97 on Monday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 370.99, a PEG ratio of 5.50 and a beta of 1.92. Warby Parker has a 52-week low of $14.96 and a 52-week high of $31.00. The stock’s 50 day moving average price is $26.80 and its two-hundred day moving average price is $25.06.

Insider Activity at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 10,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.53, for a total value of $265,300.00. Following the transaction, the director owned 26,061 shares in the company, valued at approximately $691,398.33. This represents a 27.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 9,200 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $29.99, for a total value of $275,908.00. Following the completion of the sale, the chief executive officer directly owned 31,112 shares of the company’s stock, valued at $933,048.88. This trade represents a 22.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 341,207 shares of company stock valued at $10,099,571 in the last three months. Corporate insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Large investors have recently modified their holdings of the company. First Horizon Corp increased its stake in Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after purchasing an additional 595 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Warby Parker by 105.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock worth $28,000 after buying an additional 673 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Warby Parker in the fourth quarter valued at $35,000. Farther Finance Advisors LLC lifted its stake in shares of Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after buying an additional 494 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Warby Parker by 110.7% in the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $39,000 after buying an additional 965 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Company Profile

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.