Warby Parker Inc. (NYSE:WRBY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $20.92.

WRBY has been the subject of several research analyst reports. The Goldman Sachs Group raised their price objective on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. BTIG Research raised their price target on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their price objective for the company from $15.00 to $18.00 in a report on Monday, October 21st. JMP Securities raised their target price on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Finally, William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th.

Warby Parker Stock Performance

Shares of WRBY stock opened at $24.57 on Friday. The business has a fifty day moving average of $24.03 and a 200 day moving average of $18.55. Warby Parker has a 1 year low of $11.35 and a 1 year high of $27.10.

Insider Buying and Selling

In other news, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the transaction, the chief financial officer now owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 300,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $306,129.78. The trade was a 96.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 558,032 shares of company stock worth $13,807,864. 26.55% of the stock is owned by insiders.

Institutional Trading of Warby Parker

Hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in Warby Parker by 3.4% in the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock valued at $782,000 after acquiring an additional 1,556 shares during the last quarter. Hsbc Holdings PLC raised its position in Warby Parker by 11.5% in the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock valued at $413,000 after purchasing an additional 2,651 shares during the period. The Manufacturers Life Insurance Company boosted 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 acquiring an additional 3,007 shares during the period. Arizona State Retirement System grew its position in Warby Parker by 16.0% in the 2nd quarter. Arizona State Retirement System now owns 23,408 shares of the company’s stock valued at $376,000 after acquiring an additional 3,224 shares in the last quarter. Finally, LVW Advisors LLC increased its stake in Warby Parker by 27.9% during the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after purchasing an additional 3,500 shares during the period. Hedge funds and other institutional investors 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.