Brokerages Set Warby Parker Inc. (NYSE:WRBY) Target Price at $23.43

Warby Parker Inc. (NYSE:WRBY) has received an average recommendation of “Moderate Buy” from the sixteen analysts that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.43.

A number of research firms recently issued reports on WRBY. The Goldman Sachs Group increased their price objective on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley lifted their price objective on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. UBS Group increased their target price on shares of Warby Parker from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Stifel Nicolaus lifted their price target on shares of Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, Roth Capital raised shares of Warby Parker to a “strong-buy” rating in a research report on Monday, February 24th.

Warby Parker Trading Up 1.0 %

Shares of NYSE WRBY opened at $18.41 on Friday. The company has a fifty day moving average price of $23.34 and a 200 day moving average price of $21.65. Warby Parker has a 1-year low of $11.66 and a 1-year high of $28.68. The firm has a market cap of $1.91 billion, a PE ratio of -68.20 and a beta of 1.91.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $27.61, for a total value of $1,380,500.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $336,206.97. This represents a 80.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 389,651 shares of company stock valued at $9,855,092. 26.55% of the stock is owned by insiders.

Institutional Trading of Warby Parker

Institutional investors have recently added to or reduced their stakes in the company. Castleark Management LLC bought a new position in shares of Warby Parker during the fourth quarter worth approximately $4,294,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Warby Parker by 11.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,625 shares of the company’s stock worth $5,293,000 after acquiring an additional 22,853 shares during the period. Two Sigma Advisers LP increased its stake in Warby Parker by 512.8% during the 4th quarter. Two Sigma Advisers LP now owns 124,400 shares of the company’s stock worth $3,012,000 after acquiring an additional 104,100 shares during the period. Two Sigma Investments LP raised its holdings in Warby Parker by 72.5% in the 4th quarter. Two Sigma Investments LP now owns 242,582 shares of the company’s stock valued at $5,873,000 after acquiring an additional 101,986 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Warby Parker by 107.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 22,400 shares of the company’s stock valued at $542,000 after acquiring an additional 11,600 shares during the period. 93.24% of the stock is currently owned by institutional investors.

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.