Analysts Set Warby Parker Inc. (NYSE:WRBY) Price Target at $23.50

Warby Parker Inc. (NYSE:WRBY - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $22.93.

A number of research analysts have commented on the company. JMP Securities decreased their price objective on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. Roth Capital upgraded shares of Warby Parker to a "strong-buy" rating in a research note on Monday, February 24th. Evercore ISI reiterated an "in-line" rating and issued a $23.00 price objective on shares of Warby Parker in a research note on Friday, January 17th. UBS Group boosted their price objective on shares of Warby Parker from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Friday, February 28th. Finally, The Goldman Sachs Group cut their price target on Warby Parker from $29.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday.

Warby Parker Price Performance

Warby Parker stock traded down $0.34 during trading hours on Tuesday, hitting $15.50. The company had a trading volume of 2,182,525 shares, compared to its average volume of 1,755,825. Warby Parker has a one year low of $11.66 and a one year high of $28.68. The firm has a market cap of $1.61 billion, a PE ratio of -57.41 and a beta of 2.00. The firm has a 50-day moving average of $18.86 and a 200 day moving average of $21.49.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total value of $1,380,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. This represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 11,684 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,651 shares of company stock worth $2,313,092. Insiders own 26.55% of the company's stock.

Institutional Trading of Warby Parker

Several institutional investors have recently made changes to their positions in WRBY. Global Retirement Partners LLC bought a new stake in Warby Parker in the 4th quarter worth about $25,000. NewEdge Advisors LLC lifted its holdings in Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,050 shares during the period. New York State Teachers Retirement System purchased a new position in Warby Parker in the first quarter worth $27,000. Jones Financial Companies Lllp grew its stake in Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after purchasing an additional 1,028 shares during the period. Finally, Comerica Bank raised its stake in shares of Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after purchasing an additional 1,386 shares during the period. Institutional investors own 93.24% of the company's stock.

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.