Warby Parker Inc. (NYSE:WRBY) Receives $16.29 Consensus Price Target from Brokerages

Warby Parker Inc. (NYSE:WRBY) has been given a consensus rating of “Hold” by the eight brokerages that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.00.

A number of research analysts have recently weighed in on WRBY shares. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 price objective on shares of Warby Parker in a research note on Thursday. Morgan Stanley boosted their target price 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.

Insider Activity at Warby Parker

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

Institutional Investors Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Polen Capital Management LLC grew its position in Warby Parker by 12.5% in the 3rd quarter. Polen Capital Management LLC now owns 369,840 shares of the company’s stock worth $4,867,000 after purchasing an additional 40,982 shares during the last quarter. AIA Group Ltd grew its position in Warby Parker by 49.8% during the fourth quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock worth $2,325,000 after buying an additional 54,839 shares in the last quarter. Vanguard Group Inc. increased its stake in Warby Parker by 2.9% during the third quarter. Vanguard Group Inc. now owns 7,850,634 shares of the company’s stock valued at $103,314,000 after acquiring an additional 219,160 shares during the period. Rock Springs Capital Management LP raised its holdings in Warby Parker by 18.9% in 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 in the last quarter. Finally, CenterBook Partners LP bought a new stake in shares of Warby Parker in the 3rd quarter worth approximately $2,430,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Stock Performance

Shares of WRBY stock opened at $14.68 on Tuesday. The stock has a fifty day moving average price of $12.68 and a 200 day moving average price of $12.77. The stock has a market cap of $1.45 billion, a PE ratio of -27.19 and a beta of 1.64. 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 data on Wednesday, February 28th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The business had revenue of $161.86 million during the quarter, compared to analysts’ expectations of $161.01 million. Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. As a group, equities research analysts predict that Warby Parker will post -0.13 earnings per share for the current year.

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.