Brokerages Set Warby Parker Inc. (NYSE:WRBY) Target Price at $16.29

Shares of Warby Parker Inc. (NYSE:WRBY) have been given an average recommendation of “Hold” by the eight research firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $16.29.

WRBY has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of Warby Parker from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research note on Wednesday, February 28th.

Insider Activity at Warby Parker

In other Warby Parker news, CEO David Abraham Gilboa sold 52,065 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $12.20, for a total value of $635,193.00. Following the sale, the chief executive officer now directly owns 12,306 shares in the company, valued at approximately $150,133.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Abraham Gilboa sold 52,065 shares of Warby Parker stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.20, for a total transaction of $635,193.00. Following the sale, the chief executive officer now directly owns 12,306 shares in the company, valued at approximately $150,133.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 8,708 shares of Warby Parker stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $103,451.04. Following the sale, the chief financial officer now owns 191,104 shares in the company, valued at $2,270,315.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,084 shares of company stock worth $1,074,979. 26.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Warby Parker

Several institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in Warby Parker during the 4th quarter valued at about $487,000. Vanguard Group Inc. raised its stake in shares of Warby Parker by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after acquiring an additional 607,352 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Warby Parker by 37.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 760,299 shares of the company’s stock worth $10,720,000 after acquiring an additional 206,131 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Warby Parker by 108.7% in the fourth quarter. GSA Capital Partners LLP now owns 46,689 shares of the company’s stock worth $658,000 after acquiring an additional 24,315 shares during the last quarter. Finally, GTS Securities LLC acquired a new stake in shares of Warby Parker during the 4th quarter worth approximately $180,000. 93.24% of the stock is owned by institutional investors.

Warby Parker Trading Down 2.4 %

Warby Parker stock opened at $13.22 on Friday. The company has a market capitalization of $1.30 billion, a P/E ratio of -24.48 and a beta of 1.63. The firm’s fifty day simple moving average is $13.19 and its 200-day simple moving average is $12.93. Warby Parker has a 1-year low of $9.83 and a 1-year high of $16.49.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The business had revenue of $161.86 million for the quarter, compared to the consensus estimate of $161.01 million. Warby Parker had a negative net margin of 9.44% and a negative return on equity of 16.36%. On average, equities research analysts predict that Warby Parker will post -0.17 earnings per share for the current year.

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.