Warby Parker Inc. (NYSE:WRBY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Warby Parker Inc. has received a consensus rating of "Moderate Buy" from twenty brokerages, with nine analysts rating it as a hold and eleven as a buy.
• The average one-year price target for Warby Parker shares is $24.06, while the stock recently opened at $28.34.
• Insider activity indicates significant stock sales, with CEO Neil Blumenthal's recent sale of over 41,000 shares, resulting in a 55.66% decrease in his ownership.

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty ratings firms that are currently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $24.0625.

WRBY has been the subject of a number of research reports. Wall Street Zen upgraded Warby Parker from a "hold" rating to a "buy" rating in a research report on Monday. JMP Securities reiterated a "market perform" rating on shares of Warby Parker in a research report on Thursday, July 10th. Evercore ISI reiterated a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. Telsey Advisory Group reiterated an "outperform" rating and set a $28.00 price objective on shares of Warby Parker in a research report on Thursday, August 7th. Finally, Roth Capital set a $24.00 price objective on Warby Parker and gave the company a "neutral" rating in a research report on Tuesday, August 5th.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $28.34 on Friday. The company has a market cap of $2.98 billion, a P/E ratio of -404.80 and a beta of 2.10. Warby Parker has a 1 year low of $13.63 and a 1 year high of $29.73. The stock's fifty day moving average price is $25.30 and its 200-day moving average price is $21.22.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 41,084 shares of the company's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $27.53, for a total value of $1,131,042.52. Following the completion of the sale, the chief executive officer owned 32,733 shares in the company, valued at $901,139.49. This represents a 55.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joel E. Cutler sold 35,000 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the sale, the director owned 19,932 shares of the company's stock, valued at approximately $533,181. The trade was a 63.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,084 shares of company stock worth $4,674,573. 18.24% of the stock is owned by insiders.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Warby Parker in the first quarter worth about $2,029,000. New York State Teachers Retirement System purchased a new stake in Warby Parker in the first quarter worth about $27,000. Jennison Associates LLC increased its position in Warby Parker by 23.7% in the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock worth $39,635,000 after buying an additional 416,797 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Warby Parker in the first quarter worth about $656,000. Finally, Ieq Capital LLC increased its position in Warby Parker by 113.4% in the first quarter. Ieq Capital LLC now owns 29,643 shares of the company's stock worth $540,000 after buying an additional 15,749 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Warby Parker Company Profile

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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