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

Warby Parker Inc. (NYSE:WRBY) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $30.1818.

Several research analysts recently issued reports on WRBY shares. Roth Capital reiterated a “neutral” rating and issued a $28.00 target price on shares of Warby Parker in a research report on Wednesday, August 5th. Telsey Advisory Group raised their price target on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. UBS Group raised their price target on Warby Parker from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. BTIG Research reaffirmed a “buy” rating on shares of Warby Parker in a research note on Friday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Harris Blumenthal sold 9,200 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $29.99, for a total transaction of $275,908.00. Following the transaction, the chief executive officer directly owned 31,112 shares in the company, valued at $933,048.88. This trade represents a 22.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Youngme E. Moon sold 10,000 shares of Warby Parker stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.53, for a total transaction of $265,300.00. Following the transaction, the director directly owned 26,061 shares in the company, valued at $691,398.33. This trade represents a 27.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 341,207 shares of company stock worth $10,099,571 in the last quarter. 16.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently made changes to their positions in WRBY. Ranger Investment Management L.P. purchased a new position in Warby Parker in the 2nd quarter worth $30,949,000. Handelsbanken Fonder AB boosted its position in Warby Parker by 29.3% during the second quarter. Handelsbanken Fonder AB now owns 41,431 shares of the company’s stock valued at $1,257,000 after buying an additional 9,400 shares during the period. FNY Investment Advisers LLC grew its stake in shares of Warby Parker by 50.2% during the second quarter. FNY Investment Advisers LLC now owns 9,949 shares of the company’s stock valued at $301,000 after buying an additional 3,325 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $39,000 after buying an additional 965 shares during the last quarter. Finally, Essential Partners LLC increased its holdings in shares of Warby Parker by 44.2% in the first quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock worth $54,000 after buying an additional 788 shares during the period. Institutional investors own 93.24% of the company’s stock.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $25.97 on Monday. The company’s fifty day moving average price is $26.80 and its 200-day moving average price is $25.05. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 370.99, a PEG ratio of 5.50 and a beta of 1.92. Warby Parker has a one year low of $14.96 and a one year high of $31.00.

Warby Parker Company Profile

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.