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

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eighteen analysts that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.88.

A number of analysts recently weighed in on the company. Cowen restated a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. Roth Capital reiterated a "neutral" rating and issued a $21.00 price target (up previously from $18.00) on shares of Warby Parker in a research report on Thursday, May 22nd. Loop Capital restated a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. The Goldman Sachs Group lifted their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Citigroup reissued a "neutral" rating and set a $22.00 target price (up previously from $17.00) on shares of Warby Parker in a research report on Wednesday, May 21st.

Warby Parker Stock Up 1.3%

NYSE WRBY traded up $0.29 on Friday, hitting $22.25. The company's stock had a trading volume of 564,025 shares, compared to its average volume of 1,981,851. The company's 50-day moving average is $19.96 and its 200 day moving average is $21.37. The firm has a market cap of $2.33 billion, a PE ratio of -185.42 and a beta of 2.09. Warby Parker has a 1-year low of $12.46 and a 1-year high of $28.68.

Insider Buying and Selling

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total value of $658,152.70. Following the transaction, the director owned 53,869 shares in the company, valued at approximately $1,071,993.10. This represents a 38.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.24% of the stock is owned by insiders.

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently modified their holdings of the company. Nuveen LLC acquired a new position in Warby Parker during the first quarter worth $30,549,000. Durable Capital Partners LP increased its position in shares of Warby Parker by 13.2% during the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company's stock worth $186,172,000 after acquiring an additional 1,194,558 shares in the last quarter. 12 West Capital Management LP acquired a new stake in shares of Warby Parker in the 1st quarter worth about $21,420,000. Goldman Sachs Group Inc. lifted its position in Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company's stock valued at $34,433,000 after acquiring an additional 929,073 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Warby Parker by 64.7% during the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock valued at $51,916,000 after purchasing an additional 842,558 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.