Warby Parker Inc. (NYSE:WRBY) Given Average Rating of “Moderate Buy” by Analysts

Warby Parker Inc. (NYSE:WRBY) has been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $28.0909.

Several research analysts have weighed in on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a report on Friday, February 20th. Weiss Ratings downgraded Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. UBS Group reiterated a “neutral” rating and issued a $20.00 price target on shares of Warby Parker in a report on Wednesday, February 25th. Finally, Citigroup boosted their price target on Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 75,213 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $24.56, for a total value of $1,847,231.28. Following the completion of the transaction, the chief executive officer directly owned 50,165 shares in the company, valued at approximately $1,232,052.40. The trade was a 59.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 15,793 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total value of $434,781.29. Following the completion of the transaction, the director owned 16,026 shares of the company’s stock, valued at $441,195.78. This trade represents a 49.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 115,793 shares of company stock valued at $2,901,550 over the last quarter. 18.24% of the stock is currently owned by insiders.

Institutional Trading of Warby Parker

Several institutional investors have recently made changes to their positions in WRBY. AQR Capital Management LLC grew its stake in shares of Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after buying an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock valued at $961,000 after buying an additional 2,297 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after buying an additional 929,073 shares during the period. Caxton Associates LLP purchased a new stake in shares of Warby Parker during the 1st quarter valued at $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Warby Parker by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after buying an additional 38,395 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Price Performance

Shares of Warby Parker stock opened at $21.98 on Friday. Warby Parker has a 1 year low of $14.96 and a 1 year high of $31.00. The company has a market capitalization of $2.35 billion, a P/E ratio of 1,099.70 and a beta of 1.95. The business has a 50 day moving average price of $23.21 and a 200 day moving average price of $23.04.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.