Warby Parker Inc. (NYSE:WRBY) Receives $23.50 Average Target Price from Analysts

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $22.93.

WRBY has been the topic of several research analyst reports. Citigroup reissued an "outperform" rating on shares of Warby Parker in a research note on Friday, February 28th. Roth Capital upgraded Warby Parker to a "strong-buy" rating in a report on Monday, February 24th. Evercore ISI reissued 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 reaffirmed an "outperform" rating and issued a $28.00 price target on shares of Warby Parker in a research report on Thursday, February 27th. Finally, Stifel Nicolaus reduced their price objective on shares of Warby Parker from $25.00 to $18.00 and set a "hold" rating for the company in a research note on Thursday, April 10th.

Warby Parker Stock Performance

Warby Parker stock traded up $0.89 during trading hours on Tuesday, hitting $15.81. The company had a trading volume of 2,551,999 shares, compared to its average volume of 1,750,360. The firm has a market cap of $1.64 billion, a P/E ratio of -58.56 and a beta of 2.00. The company has a 50-day moving average price of $19.26 and a two-hundred day moving average price of $21.50. Warby Parker has a 1 year low of $11.66 and a 1 year high of $28.68.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 27,967 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $657,783.84. Following the sale, the chief executive officer now owns 23,961 shares in the company, valued at $563,562.72. This represents a 53.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 11,684 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the transaction, the chief financial officer now directly owns 204,727 shares of the company's stock, valued at $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,651 shares of company stock worth $2,313,092 over the last 90 days. 26.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Warby Parker by 7.9% in the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company's stock valued at $32,187,000 after purchasing an additional 144,623 shares during the last quarter. Perpetual Ltd acquired a new position in shares of Warby Parker during the 4th quarter worth approximately $488,000. Dakota Wealth Management purchased a new position in Warby Parker during the fourth quarter valued at $895,000. KBC Group NV lifted its holdings in Warby Parker by 39.3% during the fourth quarter. KBC Group NV now owns 4,743 shares of the company's stock valued at $115,000 after purchasing an additional 1,339 shares in the last quarter. Finally, Choreo LLC grew its position in shares of Warby Parker by 60.6% in the fourth quarter. Choreo LLC now owns 17,155 shares of the company's stock valued at $415,000 after purchasing an additional 6,472 shares during the period. Institutional investors and hedge funds own 93.24% of the company's stock.

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.