King Luther Capital Management Corp acquired a new stake in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 236,623 shares of the company's stock, valued at approximately $4,314,000. King Luther Capital Management Corp owned 0.23% of Warby Parker at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Warby Parker by 62.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,403 shares of the company's stock valued at $5,094,000 after purchasing an additional 106,992 shares during the period. Accuvest Global Advisors acquired a new position in shares of Warby Parker during the first quarter valued at about $244,000. CenterBook Partners LP acquired a new position in shares of Warby Parker during the first quarter valued at about $1,419,000. AlpInvest Partners B.V. acquired a new position in shares of Warby Parker during the first quarter valued at about $1,837,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Warby Parker by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 744,589 shares of the company's stock valued at $13,574,000 after purchasing an additional 2,039 shares during the period. Institutional investors and hedge funds own 93.24% of the company's stock.
Insider Buying and Selling
In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $25.11, for a total value of $1,255,500.00. Following the completion of the transaction, the chief executive officer directly owned 28,347 shares of the company's stock, valued at approximately $711,793.17. This trade represents a 63.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the completion of the transaction, the director directly owned 44,879 shares of the company's stock, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,073 shares of company stock valued at $3,265,433. Company insiders own 18.24% of the company's stock.
Warby Parker Price Performance
Shares of Warby Parker stock traded up $2.42 on Wednesday, reaching $26.83. 2,515,928 shares of the company traded hands, compared to its average volume of 1,813,759. Warby Parker Inc. has a 52 week low of $12.46 and a 52 week high of $29.73. The company has a 50 day moving average of $22.87 and a 200 day moving average of $21.06. The firm has a market capitalization of $2.82 billion, a PE ratio of -383.23 and a beta of 2.09.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Roth Capital set a $24.00 target price on shares of Warby Parker and gave the stock a "neutral" rating in a report on Tuesday, August 5th. JMP Securities restated a "market perform" rating on shares of Warby Parker in a report on Thursday, July 10th. UBS Group restated a "neutral" rating and issued a $23.00 target price (up previously from $20.00) on shares of Warby Parker in a report on Friday, August 8th. Cowen restated a "buy" rating on shares of Warby Parker in a report on Friday, August 8th. Finally, Robert W. Baird set a $30.00 price objective on shares of Warby Parker and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Warby Parker presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.06.
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About Warby Parker
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Free Report)
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.
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