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

Key Points

• Analyst consensus: Sixteen firms give Warby Parker (WRBY) a consensus recommendation of "Moderate Buy" (10 buy, 5 hold, 1 sell) with an average 12‑month target price of $28.09.
• Insider selling: CEO Neil Blumenthal sold 22,442 shares under a pre‑arranged Rule 10b5‑1 plan and insiders sold 115,793 shares in the last quarter, leaving insiders with 18.24% ownership.
• Market snapshot: Shares opened at $23.13 (up ~4.6%), with a 12‑month range of $14.96–$31.00, a market cap of $2.48B, and roughly 93.24% of shares held by institutional investors.

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $28.0909.

A number of brokerages have weighed in on WRBY. Telsey Advisory Group reiterated an "outperform" rating and issued a $32.00 price objective on shares of Warby Parker in a research note on Friday, February 20th. Weiss Ratings cut Warby Parker from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, March 2nd. UBS Group reiterated a "neutral" rating and issued a $20.00 price objective on shares of Warby Parker in a research note on Wednesday, February 25th. Finally, 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.

Insider Buying and Selling

In other news, CEO Neil Harris Blumenthal sold 22,442 shares of the company's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $25.09, for a total transaction of $563,069.78. Following the completion of the sale, the chief executive officer owned 50,165 shares in the company, valued at $1,258,639.85. This represents a 30.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 15,793 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total value of $434,781.29. Following the sale, the director owned 16,026 shares of the company's stock, valued at $441,195.78. This trade represents a 49.63% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 115,793 shares of company stock valued at $2,901,550. 18.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

Several large investors have recently modified their holdings of the stock. Man Group plc raised its stake in shares of Warby Parker by 1.6% during the second quarter. Man Group plc now owns 25,095 shares of the company's stock worth $550,000 after purchasing an additional 400 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Warby Parker by 41.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company's stock worth $37,000 after purchasing an additional 494 shares during the last quarter. First Horizon Corp raised its stake in shares of Warby Parker by 96.7% during the fourth quarter. First Horizon Corp now owns 1,210 shares of the company's stock worth $26,000 after purchasing an additional 595 shares during the last quarter. Choreo LLC raised its stake in shares of Warby Parker by 4.6% during the third quarter. Choreo LLC now owns 16,605 shares of the company's stock worth $458,000 after purchasing an additional 728 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in shares of Warby Parker by 10.1% during the third quarter. New York State Teachers Retirement System now owns 8,905 shares of the company's stock worth $246,000 after purchasing an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Warby Parker Trading Up 4.6%

Shares of NYSE WRBY opened at $23.13 on Friday. Warby Parker has a twelve month low of $14.96 and a twelve month high of $31.00. The stock has a 50 day moving average of $23.25 and a two-hundred day moving average of $23.03. The stock has a market cap of $2.48 billion, a P/E ratio of 1,157.18 and a beta of 1.96.

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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