Warby Parker Inc. (NYSE:WRBY) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

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Warby Parker Inc. (NYSE:WRBY - Get Free Report) has received an average rating of "Moderate Buy" from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $28.00.

A number of brokerages recently issued reports on WRBY. UBS Group reiterated a "neutral" rating and set a $20.00 price objective on shares of Warby Parker in a research note on Wednesday, February 25th. Citigroup boosted their price objective on Warby Parker from $18.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday, March 17th. BTIG Research boosted their price objective on Warby Parker from $25.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, December 11th. Weiss Ratings downgraded Warby Parker from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, March 2nd. Finally, Robert W. Baird set a $35.00 price objective on Warby Parker in a research note on Wednesday, December 17th.

Warby Parker Stock Up 3.8%

NYSE WRBY opened at $21.06 on Tuesday. Warby Parker has a 52 week low of $13.63 and a 52 week high of $31.00. The firm has a market capitalization of $2.25 billion, a P/E ratio of 1,053.33 and a beta of 2.07. The company has a 50-day moving average price of $23.77 and a 200-day moving average price of $23.46.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total transaction of $1,354,000.00. Following the completion of the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at approximately $1,005,182.52. The trade was a 57.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Bradley E. Singer sold 15,793 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 16,026 shares of the company's stock, valued at approximately $441,195.78. This trade represents a 49.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 66,453 shares of company stock valued at $1,808,575. 18.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in Warby Parker during the 4th quarter valued at approximately $768,000. Virtu Financial LLC bought a new stake in shares of Warby Parker during the fourth quarter valued at approximately $785,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Warby Parker during the fourth quarter valued at approximately $46,484,000. NewEdge Advisors LLC raised its position in shares of Warby Parker by 638.9% during the fourth quarter. NewEdge Advisors LLC now owns 17,365 shares of the company's stock valued at $378,000 after buying an additional 15,015 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Warby Parker during the fourth quarter valued at approximately $839,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.

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