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

Warby Parker Inc. (NYSE:WRBY) has been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.43.

Several brokerages have recently commented on WRBY. Piper Sandler upped their price target on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus upped their price target on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $28.00 price target on shares of Warby Parker in a research note on Thursday, February 27th. UBS Group upped their price target on Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Morgan Stanley upped their price target on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st.

Insiders Place Their Bets

In other news, CFO Steven Clive Miller sold 11,684 shares of the firm’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 sale, the chief financial officer now owns 204,727 shares of the company’s stock, valued at approximately $4,815,179.04. This trade represents a 5.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $287,986.05. This trade represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 596,667 shares of company stock worth $14,967,484 in the last quarter. 26.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently made changes to their positions in WRBY. American Century Companies Inc. raised its position in shares of Warby Parker by 64.7% during the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock worth $51,916,000 after acquiring an additional 842,558 shares in the last quarter. Durable Capital Partners LP raised its position in shares of Warby Parker by 10.3% during 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. Great Lakes Advisors LLC acquired a new stake in shares of Warby Parker during the 4th quarter worth about $14,596,000. Verition Fund Management LLC acquired a new stake in shares of Warby Parker during the 3rd quarter worth about $7,462,000. Finally, Symmetry Investments LP acquired a new stake in shares of Warby Parker during the 4th quarter worth about $8,581,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Stock Down 2.2 %

Shares of Warby Parker stock opened at $21.10 on Monday. Warby Parker has a 52 week low of $11.35 and a 52 week high of $28.68. The business’s fifty day simple moving average is $25.43 and its 200-day simple moving average is $20.90. The firm has a market cap of $2.19 billion, a PE ratio of -78.15 and a beta of 1.91.

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.