Warby Parker Inc. (NYSE:WRBY) Receives $18.82 Average Price Target from Analysts

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twelve analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $18.82.

A number of brokerages have weighed in on WRBY. Robert W. Baird boosted their target price on shares of Warby Parker from $18.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Piper Sandler upped their price objective on Warby Parker from $18.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. The Goldman Sachs Group raised Warby Parker from a "neutral" rating to a "buy" rating and raised their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. JMP Securities upgraded shares of Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 price objective on the stock in a research note on Friday, August 23rd. Finally, Telsey Advisory Group boosted their target price on shares of Warby Parker from $22.00 to $26.00 and gave the company an "outperform" rating in a research report on Tuesday.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $13.89, for a total value of $694,500.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $169,138.53. The trade was a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 6,763 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is owned by corporate insiders.

Institutional Trading of Warby Parker

Hedge funds have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. boosted its stake in Warby Parker by 113.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company's stock worth $39,787,000 after buying an additional 1,315,672 shares during the period. Marshall Wace LLP grew its holdings in Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company's stock valued at $22,852,000 after purchasing an additional 1,295,136 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Warby Parker by 44.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company's stock worth $25,192,000 after acquiring an additional 481,900 shares during the last quarter. Verition Fund Management LLC purchased a new position in Warby Parker during the 3rd quarter valued at $7,462,000. Finally, Zweig DiMenna Associates LLC bought a new position in Warby Parker in the 2nd quarter valued at $5,183,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Warby Parker Stock Down 0.7 %

Shares of WRBY traded down $0.16 during mid-day trading on Friday, hitting $23.11. 1,470,208 shares of the company traded hands, compared to its average volume of 1,704,297. The stock has a 50-day moving average price of $17.37 and a two-hundred day moving average price of $16.14. Warby Parker has a 1 year low of $10.28 and a 1 year high of $23.83.

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.