Warby Parker Inc. (NYSE:WRBY) Receives $16.57 Consensus PT from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.57.

A number of analysts have commented on the company. UBS Group boosted their target price on Warby Parker from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Morgan Stanley raised their price target on shares of Warby Parker from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Loop Capital upped their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 price target on shares of Warby Parker in a research note on Thursday, August 8th. Finally, Stifel Nicolaus lifted their price objective on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th.

Warby Parker Stock Up 4.3 %

Shares of WRBY opened at $14.04 on Thursday. The company has a 50-day simple moving average of $15.48 and a 200-day simple moving average of $14.49. Warby Parker has a 52-week low of $9.83 and a 52-week high of $17.95. The company has a market capitalization of $1.41 billion, a PE ratio of -29.87 and a beta of 1.82.

Insider Transactions at Warby Parker

In other news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the completion of the sale, the insider now owns 9,444,023 shares in the company, valued at approximately $147,893,400.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the completion of the sale, the insider now directly owns 9,444,023 shares of the company’s stock, valued at approximately $147,893,400.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bradley E. Singer acquired 50,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $1,300,000. The disclosure for this purchase can be found here. Insiders have sold a total of 5,848,537 shares of company stock worth $91,938,722 in the last three months. 26.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio acquired a new position in shares of Warby Parker during the fourth quarter worth $40,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Warby Parker by 12.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,520 shares of the company’s stock worth $247,000 after buying an additional 1,974 shares in the last quarter. AIA Group Ltd boosted its position in Warby Parker by 49.8% in the 4th quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock valued at $2,325,000 after buying an additional 54,839 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Warby Parker during the fourth quarter worth about $12,034,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Warby Parker in the fourth quarter worth about $160,000. 93.24% of the stock is owned by institutional investors and hedge funds.

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.