Analysts Set Warby Parker Inc. (NYSE:WRBY) PT at $27.38

Shares of Warby Parker Inc. (NYSE:WRBY) have been given an average rating of “Moderate Buy” by the sixteen research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $27.8333.

A number of research analysts recently weighed in on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $32.00 price target on shares of Warby Parker in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday, December 29th. BTIG Research boosted their target price on Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Piper Sandler upped their target price on Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Robert W. Baird set a $35.00 price target on Warby Parker in a report on Wednesday, December 17th.

Insiders Place Their Bets

In related news, Director Youngme E. Moon sold 38,832 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the sale, the director directly owned 27,057 shares in the company, valued at approximately $786,546.99. The trade was a 58.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total transaction of $518,431.32. Following the sale, the director directly owned 20,000 shares in the company, valued at approximately $520,200. This trade represents a 49.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 359,424 shares of company stock valued at $9,813,571 over the last ninety days. 18.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently bought and sold shares of WRBY. Vanguard Group Inc. lifted its stake in Warby Parker by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after purchasing an additional 327,830 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Warby Parker by 32.5% in the fourth quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock worth $210,907,000 after buying an additional 2,375,726 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Warby Parker by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock worth $57,133,000 after buying an additional 884,035 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Warby Parker by 9.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,421,950 shares of the company’s stock valued at $66,797,000 after buying an additional 205,630 shares during the period. Finally, State Street Corp grew its position in Warby Parker by 9.2% during the fourth quarter. State Street Corp now owns 2,408,610 shares of the company’s stock worth $52,484,000 after buying an additional 202,029 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Trading Up 3.6%

NYSE WRBY opened at $22.75 on Monday. The business has a fifty day simple moving average of $25.60 and a 200 day simple moving average of $24.06. Warby Parker has a 12 month low of $13.63 and a 12 month high of $31.00. The firm has a market capitalization of $2.41 billion, a P/E ratio of 2,274.90 and a beta of 2.05.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.