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

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eighteen ratings firms that are currently covering the firm, 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 12 month price target among brokerages that have issued a report on the stock in the last year is $22.88.

A number of research analysts recently commented on the company. Citigroup reissued a "neutral" rating and issued a $22.00 target price (up previously from $17.00) on shares of Warby Parker in a research note on Wednesday, May 21st. Piper Sandler reissued an "overweight" rating and issued a $25.00 target price (up previously from $20.00) on shares of Warby Parker in a research note on Thursday, May 29th. Loop Capital reissued a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Telsey Advisory Group reduced their target price on Warby Parker from $30.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Finally, The Goldman Sachs Group increased their target price on Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 9th.

Insider Activity

In related news, Director Youngme E. Moon sold 33,073 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total value of $658,152.70. Following the sale, the director directly owned 53,869 shares of the company's stock, valued at $1,071,993.10. This trade represents a 38.04% 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. 18.24% of the stock is owned by insiders.

Institutional Trading of Warby Parker

Several large investors have recently modified their holdings of the business. Arizona State Retirement System boosted its position in Warby Parker by 2.6% during the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company's stock valued at $602,000 after acquiring an additional 619 shares in the last quarter. Mariner LLC lifted its holdings in shares of Warby Parker by 6.5% during the fourth 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 last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Warby Parker by 10.0% during the fourth 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 last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after purchasing an additional 1,028 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,050 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Stock Down 0.2%

Shares of WRBY stock traded down $0.04 on Friday, reaching $22.28. The company's stock had a trading volume of 1,494,839 shares, compared to its average volume of 1,990,594. Warby Parker has a 12-month low of $12.46 and a 12-month high of $28.68. The company has a market capitalization of $2.33 billion, a P/E ratio of -185.67 and a beta of 2.09. The stock's 50 day simple moving average is $20.32 and its 200-day simple moving average is $21.34.

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.