AlpInvest Partners B.V. Purchases New Stake 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. purchased a new position in Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 100,791 shares of the company's stock, valued at approximately $1,837,000. Warby Parker comprises 2.8% of AlpInvest Partners B.V.'s investment portfolio, making the stock its 7th largest position. AlpInvest Partners B.V. owned about 0.10% of Warby Parker as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WRBY. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Warby Parker during the 1st quarter valued at about $2,029,000. New York State Teachers Retirement System acquired a new position in Warby Parker in the first quarter valued at about $27,000. Jennison Associates LLC boosted its position in Warby Parker by 23.7% in the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after buying an additional 416,797 shares in the last quarter. Northern Trust Corp boosted its position in Warby Parker by 7.5% in the fourth quarter. Northern Trust Corp now owns 811,038 shares of the company's stock valued at $19,635,000 after buying an additional 56,674 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Warby Parker in the first quarter valued at about $602,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citizens Jmp lowered shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. The Goldman Sachs Group boosted their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup restated a "neutral" rating and issued a $22.00 price target (up from $17.00) on shares of Warby Parker in a research report on Wednesday, May 21st. Stifel Nicolaus boosted their price target on shares of Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Friday. Finally, Evercore ISI reaffirmed a "positive" rating on shares of Warby Parker in a research note on Thursday. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.06.

Insider Buying and Selling at Warby Parker

In other news, Director Youngme E. Moon sold 33,073 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total value of $658,152.70. Following the transaction, the director directly owned 53,869 shares of the company's stock, valued at $1,071,993.10. This represents a 38.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 49,600 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $24.21, for a total transaction of $1,200,816.00. Following the transaction, the chief executive officer directly owned 28,347 shares in the company, valued at approximately $686,280.87. This 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 over the last ninety days. Insiders own 18.24% of the company's stock.

Warby Parker Stock Down 0.5%

WRBY traded down $0.11 during trading hours on Friday, hitting $23.37. 2,626,000 shares of the company's stock were exchanged, compared to its average volume of 1,752,055. Warby Parker Inc. has a 1-year low of $12.46 and a 1-year high of $29.73. The stock's 50-day moving average is $22.64 and its two-hundred day moving average is $21.08. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -333.81 and a beta of 2.09.

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.