Brokerages Set Warby Parker Inc. (NYSE:WRBY) PT at $16.29

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have been assigned an average rating of "Hold" from the eight ratings firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.29.

A number of equities analysts have recently issued reports on WRBY shares. Telsey Advisory Group reissued an "outperform" rating and issued a $19.00 target price on shares of Warby Parker in a report on Wednesday, February 28th. Morgan Stanley increased their price objective on Warby Parker from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 24th.

Warby Parker Stock Performance

Shares of NYSE:WRBY traded down $0.32 on Friday, hitting $13.22. 837,354 shares of the company were exchanged, compared to its average volume of 1,215,477. The company's 50 day moving average price is $13.19 and its two-hundred day moving average price is $12.92. Warby Parker has a one year low of $9.83 and a one year high of $16.49. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -24.48 and a beta of 1.63.

Warby Parker (NYSE:WRBY - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. The firm had revenue of $161.86 million during the quarter, compared to the consensus estimate of $161.01 million. Research analysts predict that Warby Parker will post -0.17 earnings per share for the current year.

Insiders Place Their Bets

In other Warby Parker news, CEO David Abraham Gilboa sold 52,065 shares of Warby Parker stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $12.20, for a total value of $635,193.00. Following the sale, the chief executive officer now owns 12,306 shares of the company's stock, valued at approximately $150,133.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Steven Clive Miller sold 8,708 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total transaction of $103,451.04. Following the completion of the transaction, the chief financial officer now directly owns 191,104 shares of the company's stock, valued at $2,270,315.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Abraham Gilboa sold 52,065 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $12.20, for a total value of $635,193.00. Following the sale, the chief executive officer now owns 12,306 shares in the company, valued at approximately $150,133.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,084 shares of company stock worth $1,074,979. Corporate insiders own 26.91% of the company's stock.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently modified their holdings of WRBY. Polen Capital Management LLC lifted its position in Warby Parker by 12.5% during the third quarter. Polen Capital Management LLC now owns 369,840 shares of the company's stock worth $4,867,000 after acquiring an additional 40,982 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Warby Parker by 2.9% during the third quarter. Vanguard Group Inc. now owns 7,850,634 shares of the company's stock worth $103,314,000 after purchasing an additional 219,160 shares during the period. CenterBook Partners LP acquired a new stake in Warby Parker during the 3rd quarter worth approximately $2,430,000. Rock Springs Capital Management LP boosted its stake in Warby Parker by 18.9% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,575,000 shares of the company's stock valued at $20,727,000 after purchasing an additional 250,000 shares during the period. Finally, FMR LLC grew its holdings in Warby Parker by 0.5% in the 3rd quarter. FMR LLC now owns 9,277,969 shares of the company's stock valued at $122,098,000 after buying an additional 43,601 shares in the last quarter. 93.24% of the stock is owned by 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.