Warby Parker Inc. (NYSE:WRBY) Receives $23.43 Consensus Price Target from Brokerages

Warby Parker Inc. (NYSE:WRBY - Get Free Report) has earned an average recommendation of "Moderate Buy" from the sixteen analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $23.43.

A number of research firms have issued reports on WRBY. William Blair raised Warby Parker from a "market perform" rating to an "outperform" rating in a report on Thursday, November 7th. Citigroup restated a "sell" rating and issued a $23.00 price objective (up previously from $19.00) on shares of Warby Parker in a research note on Wednesday, February 5th. Evercore ISI reaffirmed an "in-line" rating and set a $23.00 target price on shares of Warby Parker in a research report on Friday, January 17th. Telsey Advisory Group reissued an "outperform" rating and issued a $28.00 price target on shares of Warby Parker in a report on Thursday, February 27th. Finally, Stifel Nicolaus boosted their price objective on shares of Warby Parker from $17.00 to $20.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 300,000 shares of Warby Parker stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company's stock, valued at approximately $306,129.78. This trade represents a 96.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Clive Miller sold 11,684 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the sale, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 596,667 shares of company stock valued at $14,967,484. 26.55% of the stock is currently owned by corporate insiders.

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Institutional Trading of Warby Parker

Large investors have recently added to or reduced their stakes in the company. Durable Capital Partners LP boosted its holdings in shares of Warby Parker by 10.3% in the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock worth $218,322,000 after acquiring an additional 840,797 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Warby Parker by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company's stock valued at $64,047,000 after purchasing an additional 89,835 shares during the last quarter. State Street Corp boosted its stake in Warby Parker by 3.2% in the third quarter. State Street Corp now owns 2,209,025 shares of the company's stock worth $36,073,000 after purchasing an additional 69,108 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Warby Parker by 64.7% during the fourth quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock worth $51,916,000 after purchasing an additional 842,558 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Warby Parker by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company's stock valued at $48,478,000 after buying an additional 313,100 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Stock Performance

Shares of NYSE:WRBY traded down $1.90 during midday trading on Monday, hitting $21.61. The company's stock had a trading volume of 2,017,223 shares, compared to its average volume of 1,778,576. The stock's 50 day simple moving average is $25.50 and its 200 day simple moving average is $20.89. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -80.02 and a beta of 1.91. Warby Parker has a fifty-two week low of $11.35 and a fifty-two week high of $28.68.

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.