Warby Parker Inc. (NYSE:WRBY) Receives $21.77 Consensus Target Price from Brokerages

Warby Parker Inc. (NYSE:WRBY) has earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.77.

A number of analysts have commented on WRBY shares. Morgan Stanley upped their price target on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Robert W. Baird increased their target price on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JMP Securities lifted their price target on shares of Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. Evercore ISI reissued an “in-line” rating and issued a $23.00 price objective on shares of Warby Parker in a research note on Friday, January 17th. Finally, Stifel Nicolaus lifted their target price on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th.

Warby Parker Stock Performance

NYSE:WRBY opened at $26.17 on Thursday. Warby Parker has a one year low of $11.35 and a one year high of $28.68. The business has a fifty day moving average price of $25.41 and a 200-day moving average price of $19.84.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 7,016 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the transaction, the chief financial officer now owns 182,130 shares in the company, valued at $4,343,800.50. This trade represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $817,645.43. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $275,321.97. This trade represents a 74.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 608,032 shares of company stock valued at $15,188,364. 26.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new stake in Warby Parker during the second quarter valued at approximately $186,000. Millennium Management LLC increased its position in shares of Warby Parker by 26.6% during the 2nd quarter. Millennium Management LLC now owns 299,151 shares of the company’s stock valued at $4,804,000 after purchasing an additional 62,865 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Warby Parker by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock valued at $717,000 after buying an additional 3,007 shares during the period. LVW Advisors LLC lifted its position in Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after buying an additional 3,500 shares during the last quarter. Finally, Prentiss Smith & Co. Inc. purchased a new position in Warby Parker during the third quarter worth $1,112,000. Institutional investors own 93.24% of the company’s stock.

About Warby Parker

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.