Accuvest Global Advisors Buys Shares of 13,406 Warby Parker Inc. (NYSE:WRBY)

Key Points

• Accuvest Global Advisors acquired 13,406 shares of Warby Parker Inc., valued at approximately $244,000, according to its Q1 Form 13F filing with the SEC.
• Insider trading saw CEO Neil Harris Blumenthal sell 49,600 shares for $1.2 million, marking a 63.63% decrease in his position.
• Warby Parker has received mixed ratings from analysts, with a consensus price target of $23.31 and a consensus rating of "Moderate Buy."

Accuvest Global Advisors purchased a new stake in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,406 shares of the company's stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Durable Capital Partners LP lifted its position 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 acquiring an additional 840,797 shares during the last quarter. Jennison Associates LLC lifted 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 worth $39,635,000 after acquiring an additional 416,797 shares during the last quarter. Renaissance Technologies LLC lifted its position in Warby Parker by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company's stock worth $48,478,000 after acquiring an additional 313,100 shares during the last quarter. Geode Capital Management LLC lifted its position in Warby Parker by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company's stock worth $48,375,000 after acquiring an additional 27,004 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Warby Parker by 12.4% during 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 buying an additional 199,235 shares during the last quarter. Institutional investors own 93.24% of the company's stock.

Insider Activity

In other Warby Parker news, CEO Neil Harris Blumenthal sold 49,600 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 28,347 shares of the company's stock, valued at approximately $686,280.87. This represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Youngme E. Moon sold 33,073 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total transaction of $658,152.70. Following the sale, the director directly owned 53,869 shares in the company, valued at $1,071,993.10. This represents a 38.04% 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.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WRBY. Stifel Nicolaus upped their price objective on shares of Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Friday. The Goldman Sachs Group upped their price objective 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. JMP Securities reaffirmed a "market perform" rating on shares of Warby Parker in a research report on Thursday, July 10th. BTIG Research reaffirmed a "buy" rating and set a $28.00 price objective (up previously from $24.00) on shares of Warby Parker in a research report on Thursday. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $25.00 price objective (up previously from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.06.

Warby Parker Stock Performance

Warby Parker stock traded down $0.11 during trading hours on Friday, hitting $23.37. 2,626,000 shares of the stock were exchanged, compared to its average volume of 1,752,055. The stock has a market capitalization of $2.44 billion, a P/E ratio of -333.81 and a beta of 2.09. Warby Parker Inc. has a 12 month low of $12.46 and a 12 month high of $29.73. The business's 50-day moving average is $22.64 and its two-hundred day moving average is $21.08.

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.