Analysts Set Warby Parker Inc. (NYSE:WRBY) Price Target at $23.43

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have been assigned an average rating of "Moderate Buy" from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.43.

Several analysts have recently commented on WRBY shares. Evercore ISI restated an "in-line" rating and set a $23.00 price objective on shares of Warby Parker in a research report on Friday, January 17th. Telsey Advisory Group reissued an "outperform" rating and set a $28.00 price target on shares of Warby Parker in a report on Thursday, February 27th. Morgan Stanley upped their price objective on Warby Parker from $17.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. UBS Group increased their target price on Warby Parker from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Finally, Roth Capital raised Warby Parker to a "strong-buy" rating in a report on Monday, February 24th.

Warby Parker Stock Down 2.3 %

WRBY traded down $0.43 during midday trading on Friday, reaching $18.25. The company had a trading volume of 1,531,839 shares, compared to its average volume of 1,635,175. The business has a 50-day moving average of $23.48 and a two-hundred day moving average of $21.62. Warby Parker has a 1 year low of $11.66 and a 1 year high of $28.68. The company has a market cap of $1.89 billion, a P/E ratio of -67.57 and a beta of 1.91.

Remove Ads

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 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 transaction of $274,807.68. Following the sale, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now owns 23,961 shares of the company's stock, valued at approximately $563,562.72. This represents a 53.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 389,651 shares of company stock valued at $9,855,092 over the last 90 days. 26.55% of the stock is owned by corporate insiders.

Institutional Trading of Warby Parker

Several institutional investors and hedge funds have recently made changes to their positions in WRBY. Thrivent Financial for Lutherans bought a new stake in Warby Parker during the 3rd quarter valued at about $213,000. Intech Investment Management LLC bought a new position in shares of Warby Parker during the third quarter valued at approximately $495,000. Charles Schwab Investment Management Inc. increased its holdings in Warby Parker by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 729,049 shares of the company's stock valued at $11,905,000 after buying an additional 87,868 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Warby Parker in the third quarter worth approximately $528,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Warby Parker during the third quarter worth $2,918,000. 93.24% of the stock is currently owned by institutional investors.

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.