Mission Creek Capital Partners Inc. Acquires New Position in Warby Parker Inc. $WRBY

Key Points

• Mission Creek Capital Partners Inc. acquired 87,616 shares of Warby Parker valued at approximately $1,597,000, increasing its ownership to about 0.08%.
• CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock for $1,255,500, resulting in a 63.82% decrease in his ownership.
• Analyst reports show a consensus rating of "Moderate Buy" for Warby Parker, with a target price ranging from $22.00 to $30.00.

Mission Creek Capital Partners Inc. acquired a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 87,616 shares of the company's stock, valued at approximately $1,597,000. Mission Creek Capital Partners Inc. owned 0.08% of Warby Parker as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WRBY. Durable Capital Partners LP boosted its holdings in Warby Parker by 10.3% in the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock valued at $218,322,000 after acquiring an additional 840,797 shares during the last quarter. American Century Companies Inc. boosted its holdings in Warby Parker by 14.6% in the first quarter. American Century Companies Inc. now owns 2,456,965 shares of the company's stock valued at $44,790,000 after acquiring an additional 312,543 shares during the last quarter. Jennison Associates LLC boosted its holdings 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 acquiring an additional 416,797 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Warby Parker by 12.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,809,294 shares of the company's stock valued at $43,803,000 after acquiring an additional 199,235 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Warby Parker by 5.4% in the first quarter. Bank of New York Mellon Corp now owns 1,721,215 shares of the company's stock valued at $31,378,000 after acquiring an additional 88,874 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Warby Parker Stock Performance

Shares of NYSE:WRBY traded down $0.08 during trading on Friday, hitting $26.16. The company's stock had a trading volume of 1,012,938 shares, compared to its average volume of 1,845,253. Warby Parker Inc. has a fifty-two week low of $12.69 and a fifty-two week high of $29.73. The stock's 50-day moving average price is $24.01 and its two-hundred day moving average price is $21.01. The company has a market capitalization of $2.75 billion, a PE ratio of -373.72 and a beta of 2.09.

Wall Street Analyst Weigh In

WRBY has been the topic of a number of research analyst reports. Telsey Advisory Group reiterated an "outperform" rating and issued a $28.00 target price on shares of Warby Parker in a report on Thursday, August 7th. TD Securities boosted their price objective on Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Roth Capital set a $24.00 price objective on Warby Parker and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Citigroup restated a "neutral" rating and set a $22.00 price objective (up previously from $17.00) on shares of Warby Parker in a research note on Wednesday, May 21st. Finally, JMP Securities restated a "market perform" rating on shares of Warby Parker in a research note on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.06.

Insider Activity

In related news, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $23.56, for a total value of $141,360.00. Following the transaction, the director owned 44,879 shares in the company, valued at approximately $1,057,349.24. The trade was a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was 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 owned 28,347 shares in the company, valued at approximately $711,793.17. This trade represents a 63.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,000 shares of company stock worth $2,607,280. Insiders own 18.24% of the company's stock.

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.