Warby Parker Inc. (NYSE:WRBY) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Warby Parker Inc. has received a consensus rating of "Hold" from twenty-one ratings firms, with one sell, nine hold, and eleven buy recommendations.
• The average twelve-month target price set by analysts for Warby Parker is $24.75, while Goldman Sachs has increased their price target to $31.00.
• Recent insider trading saw Director Joel E. Cutler sell 35,000 shares for $936,250, reducing his stake by 63.72%, alongside other significant sales by company directors.

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have been given a consensus rating of "Hold" by the twenty-one ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $24.75.

WRBY has been the topic of several recent analyst reports. The Goldman Sachs Group upped their target price on Warby Parker from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Warby Parker in a research note on Wednesday, October 8th. Robert W. Baird set a $30.00 price target on Warby Parker and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Cowen reiterated a "buy" rating on shares of Warby Parker in a research note on Friday, August 8th. Finally, BTIG Research reiterated a "buy" rating and set a $28.00 price target (up previously from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Joel E. Cutler sold 35,000 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $26.75, for a total transaction of $936,250.00. Following the sale, the director owned 19,932 shares in the company, valued at approximately $533,181. The trade was a 63.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $23.56, for a total value of $141,360.00. Following the sale, the director owned 44,879 shares in the company, valued at approximately $1,057,349.24. The trade was a 11.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,000 shares of company stock worth $4,919,941. 18.24% of the stock is currently owned by insiders.

Institutional Trading of Warby Parker

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new stake in shares of Warby Parker in the first quarter worth about $27,000. PNC Financial Services Group Inc. boosted its stake in shares of Warby Parker by 400.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company's stock worth $35,000 after buying an additional 1,281 shares during the last quarter. Huntington National Bank boosted its stake in shares of Warby Parker by 111.0% in the second quarter. Huntington National Bank now owns 1,675 shares of the company's stock worth $37,000 after buying an additional 881 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Warby Parker in the first quarter worth about $58,000. Finally, Anderson Financial Strategies LLC boosted its stake in shares of Warby Parker by 39.0% in the first quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company's stock worth $72,000 after buying an additional 1,109 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $22.17 on Tuesday. The business's 50-day moving average is $26.16 and its 200 day moving average is $21.95. Warby Parker has a 1 year low of $13.63 and a 1 year high of $29.73. The firm has a market capitalization of $2.33 billion, a P/E ratio of -316.61 and a beta of 2.10.

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.

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