Warby Parker Inc. (NYSE:WRBY) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have received an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $16.67.

A number of analysts recently issued reports on the stock. BTIG Research raised shares of Warby Parker from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a report on Thursday, October 12th. UBS Group initiated coverage on shares of Warby Parker in a research note on Monday, September 25th. They set a “neutral” rating and a $13.00 target price on the stock. Citigroup lifted their price target on Warby Parker from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. Morgan Stanley lowered their price target on Warby Parker from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 9th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research report on Thursday, August 10th.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 5,016 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $11.92, for a total value of $59,790.72. Following the transaction, the chief executive officer now owns 106 shares in the company, valued at approximately $1,263.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Steven Clive Miller sold 7,607 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $11.92, for a total transaction of $90,675.44. Following the transaction, the chief financial officer now directly owns 187,252 shares in the company, valued at approximately $2,232,043.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 5,016 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $11.92, for a total value of $59,790.72. Following the completion of the sale, the chief executive officer now directly owns 106 shares of the company’s stock, valued at approximately $1,263.52. The disclosure for this sale can be found here. Corporate insiders own 26.91% of the company’s stock.

Institutional Trading of Warby Parker

Several large investors have recently added to or reduced their stakes in WRBY. Rock Springs Capital Management LP boosted its position in shares of Warby Parker by 18.9% during the 3rd quarter. Rock Springs Capital Management LP now owns 1,575,000 shares of the company’s stock valued at $20,727,000 after acquiring an additional 250,000 shares during the last quarter. Scopia Capital Management LP boosted its holdings in Warby Parker by 781.3% in the 3rd quarter. Scopia Capital Management LP now owns 1,590,744 shares of the company’s stock valued at $20,934,000 after purchasing an additional 1,410,243 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Warby Parker by 15.6% during the 3rd quarter. Legal & General Group Plc now owns 70,598 shares of the company’s stock worth $929,000 after buying an additional 9,538 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Warby Parker by 80.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,318 shares of the company’s stock worth $149,000 after buying an additional 5,052 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Warby Parker by 137,633.3% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,132 shares of the company’s stock valued at $54,000 after buying an additional 4,129 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Warby Parker Trading Down 0.3 %

Warby Parker stock opened at $10.96 on Tuesday. The firm has a market cap of $1.07 billion, a PE ratio of -19.56 and a beta of 1.83. Warby Parker has a 12 month low of $9.50 and a 12 month high of $18.67. The stock’s 50 day simple moving average is $12.85 and its two-hundred day simple moving average is $12.60.

About Warby Parker

Warby Parker Inc provides eyewear products. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering 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.