AlpInvest Partners B.V. Invests $1.84 Million in Warby Parker Inc. (NYSE:WRBY)

Key Points

• AlpInvest Partners B.V. has acquired 100,791 shares of Warby Parker Inc. valued at approximately $1.8 million, making it the investor's 7th largest position at 2.8% of their total holdings.
• Multiple institutional investors have adjusted their stakes in Warby Parker, with significant increases from firms like NewEdge Advisors LLC, which raised its position by 700% during the fourth quarter.
• Despite a recent dip, Wall Street analysts have a "Moderate Buy" consensus rating for Warby Parker, with price targets ranging from $21.00 to $25.00 depending on the analyst report.

AlpInvest Partners B.V. acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,791 shares of the company's stock, valued at approximately $1,837,000. Warby Parker makes up about 2.8% of AlpInvest Partners B.V.'s portfolio, making the stock its 7th largest holding. AlpInvest Partners B.V. owned approximately 0.10% of Warby Parker at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WRBY. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Warby Parker during the 1st quarter worth about $2,029,000. New York State Teachers Retirement System acquired a new position in Warby Parker in the 1st quarter valued at approximately $27,000. Jennison Associates LLC increased its position in Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after acquiring an additional 416,797 shares during the period. Northern Trust Corp lifted its position in shares of Warby Parker by 7.5% in the 4th quarter. Northern Trust Corp now owns 811,038 shares of the company's stock worth $19,635,000 after purchasing an additional 56,674 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Warby Parker in the 1st quarter worth approximately $602,000. Institutional investors own 93.24% of the company's stock.

Insider Activity at Warby Parker

In other news, Director Youngme E. Moon sold 33,073 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total value of $658,152.70. Following the completion of the sale, the director owned 53,869 shares of the company's stock, valued at $1,071,993.10. This trade represents a 38.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 49,600 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $24.21, for a total value of $1,200,816.00. Following the transaction, the chief executive officer owned 28,347 shares in the company, valued at approximately $686,280.87. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,073 shares of company stock worth $1,868,573 in the last 90 days. 18.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WRBY has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a report on Friday. The Goldman Sachs Group raised their target price on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Citigroup restated a "neutral" rating and issued a $22.00 target price (up previously from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. TD Securities lifted their price target on shares of Warby Parker from $20.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Warby Parker in a research report on Thursday, July 10th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Warby Parker presently has an average rating of "Moderate Buy" and an average target price of $24.06.

Warby Parker Stock Performance

Warby Parker stock traded up $0.16 during trading on Monday, hitting $23.49. The company's stock had a trading volume of 443,690 shares, compared to its average volume of 2,251,758. Warby Parker Inc. has a 1-year low of $12.46 and a 1-year high of $29.73. The stock's fifty day moving average is $22.64 and its 200 day moving average is $21.02. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -336.09 and a beta of 2.09.

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.