Warby Parker Inc. (NYSE:WRBY) Receives Average Rating of “Moderate Buy” from Brokerages

Warby Parker Inc. (NYSE:WRBY) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $18.82.

Several research analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. The Goldman Sachs Group upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Monday, October 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. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler increased their price objective on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th.

Warby Parker Stock Performance

WRBY opened at $22.54 on Friday. The stock’s 50 day simple moving average is $18.23 and its 200 day simple moving average is $16.49. Warby Parker has a 1 year low of $10.28 and a 1 year high of $24.60.

Insider Buying and Selling

In other news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at $2,467,083.20. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,143 shares of Warby Parker stock in a transaction dated Friday, September 6th. The stock was 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 represents a 69.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 99,178 shares of company stock worth $1,339,901 in the last three months. 26.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WRBY. Advisors Asset Management Inc. lifted its holdings in shares of Warby Parker by 79.9% during the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC bought a new position in Warby Parker during the 2nd quarter valued at about $131,000. Choreo LLC bought a new position in Warby Parker during the 2nd quarter valued at about $167,000. SG Americas Securities LLC bought a new stake in shares of Warby Parker in the first quarter worth approximately $176,000. Finally, AQR Capital Management LLC bought a new stake in shares of Warby Parker in the second quarter worth approximately $186,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.