Bryce Point Capital LLC Makes New Investment in Warby Parker Inc. (NYSE:WRBY)

Key Points

• Bryce Point Capital LLC acquired 50,846 shares of Warby Parker Inc., valued at approximately $1,022,000, making up 0.8% of its investment portfolio.
• CEO Neil Harris Blumenthal sold 49,600 shares, decreasing his position by 63.63%, while the stock has shown volatility with a 1-year low of $12.46 and a high of $28.68.
• Analyst ratings for Warby Parker are mixed, with a consensus of "Moderate Buy"** and an average target price of $22.88, highlighting varied investor confidence.

Bryce Point Capital LLC acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 50,846 shares of the company's stock, valued at approximately $1,022,000. Warby Parker accounts for 0.8% of Bryce Point Capital LLC's investment portfolio, making the stock its 5th biggest position.

Several other institutional investors also recently bought and sold shares of WRBY. Durable Capital Partners LP increased its holdings in Warby Parker by 10.3% during the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock worth $218,322,000 after purchasing an additional 840,797 shares during the period. Victory Capital Management Inc. boosted its position in Warby Parker by 6,931.8% during the 1st quarter. Victory Capital Management Inc. now owns 770,054 shares of the company's stock valued at $14,038,000 after acquiring an additional 759,103 shares in the last quarter. Jennison Associates LLC boosted its position in Warby Parker by 23.7% during 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 in the last quarter. Symmetry Investments LP bought a new stake in Warby Parker during the 4th quarter valued at $8,581,000. Finally, Raymond James Financial Inc. bought a new stake in Warby Parker during the 4th quarter valued at $8,272,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Youngme E. Moon sold 33,073 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total transaction of $658,152.70. Following the sale, the director owned 53,869 shares in the company, valued at $1,071,993.10. The trade was a 38.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 49,600 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were 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 $686,280.87. The trade was 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 owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WRBY shares. Piper Sandler reissued an "overweight" rating and issued a $25.00 price objective (up previously from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. JMP Securities reissued a "market perform" rating on shares of Warby Parker in a research report on Thursday, July 10th. Citizens Jmp cut Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. Cowen reaffirmed a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Finally, Telsey Advisory Group lowered their price target on Warby Parker from $30.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Warby Parker has an average rating of "Moderate Buy" and a consensus target price of $22.75.

Warby Parker Trading Up 0.7%

Shares of NYSE WRBY traded up $0.16 during midday trading on Thursday, reaching $23.81. The company's stock had a trading volume of 754,682 shares, compared to its average volume of 2,252,607. Warby Parker Inc. has a one year low of $12.46 and a one year high of $28.68. The company has a 50 day moving average price of $22.14 and a 200 day moving average price of $21.15. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -198.71 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.