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

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eighteen research firms that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $22.88.

Several brokerages recently issued reports on WRBY. JMP Securities lowered their target price on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating for the company in a research report on Monday, April 14th. Roth Mkm began coverage on Warby Parker in a research note on Tuesday, February 25th. They issued a "neutral" rating and a $26.00 target price for the company. The Goldman Sachs Group raised their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Loop Capital reissued a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Finally, Stifel Nicolaus lifted their target price on shares of Warby Parker from $18.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st.

Warby Parker Price Performance

NYSE:WRBY traded down $0.42 during trading hours on Wednesday, reaching $22.04. 2,235,503 shares of the company were exchanged, compared to its average volume of 1,952,468. The company has a market capitalization of $2.30 billion, a P/E ratio of -81.63 and a beta of 2.10. Warby Parker has a 1-year low of $12.46 and a 1-year high of $28.68. The business has a 50 day moving average of $17.91 and a 200 day moving average of $21.55.

Insiders Place Their Bets

In related news, Director Youngme E. Moon sold 33,073 shares of Warby Parker stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total transaction of $658,152.70. Following the completion of the sale, the director now owns 53,869 shares in the company, valued at $1,071,993.10. This trade represents a 38.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 18.24% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WRBY. Arizona State Retirement System raised its stake in Warby Parker by 2.6% in the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company's stock worth $602,000 after acquiring an additional 619 shares during the last quarter. Mariner LLC lifted its stake in shares of Warby Parker by 6.5% in the 4th quarter. Mariner LLC now owns 10,772 shares of the company's stock valued at $261,000 after purchasing an additional 660 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Warby Parker by 10.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company's stock valued at $224,000 after purchasing an additional 840 shares during the period. Jones Financial Companies Lllp raised its position in Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after acquiring an additional 1,028 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in Warby Parker during the fourth quarter worth $25,000. Hedge funds and other institutional investors own 93.24% of the company's stock.

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.