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

Shares of Warby Parker Inc. (NYSE:WRBY) have received a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.82.

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.00 to $18.00 in a report on Monday, October 21st. Robert W. Baird raised their target price on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BTIG Research upped their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus raised their price objective on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday, August 23rd.

Insider Buying and Selling at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $158,301. This trade represents a 69.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 ninety days, insiders have sold 99,178 shares of company stock worth $1,339,901. Insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. raised its position 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 valued at $39,787,000 after purchasing an additional 1,315,672 shares during the period. Marshall Wace LLP lifted its position in Warby Parker by 1,013.4% in the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after buying an additional 1,295,136 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Warby Parker by 44.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after buying an additional 481,900 shares during the period. Verition Fund Management LLC purchased a new position in Warby Parker during the third quarter worth $7,462,000. Finally, Zweig DiMenna Associates LLC bought a new position in Warby Parker during the second quarter valued at $5,183,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

Warby Parker stock opened at $22.54 on Friday. Warby Parker has a 52-week low of $10.28 and a 52-week high of $24.60. The business has a 50-day simple moving average of $18.23 and a two-hundred day simple moving average of $16.49.

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.