Alberta Investment Management Corp Cuts Stake in Warby Parker Inc. (NYSE:WRBY)

Key Points

• Alberta Investment Management Corp has reduced its stake in Warby Parker Inc. by 16.7%, selling 27,877 shares and retaining 139,041 shares, valued at approximately $2.53 million.
• Several institutional investors have increased their holdings in Warby Parker, with CWM LLC leading the charge by boosting its stake by 231.9% in the first quarter.
• Warby Parker's stock is currently trading down 1.4%, with a market cap of $2.47 billion and an average target price among analysts of $23.13.

Alberta Investment Management Corp reduced its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,041 shares of the company's stock after selling 27,877 shares during the period. Alberta Investment Management Corp owned about 0.13% of Warby Parker worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Modera Wealth Management LLC purchased a new stake in Warby Parker during the 1st quarter worth about $186,000. XTX Topco Ltd purchased a new position in Warby Parker during the first quarter valued at $395,000. GSA Capital Partners LLP raised its stake in Warby Parker by 17.7% during the first quarter. GSA Capital Partners LLP now owns 35,187 shares of the company's stock valued at $641,000 after buying an additional 5,287 shares during the last quarter. Bryce Point Capital LLC purchased a new position in shares of Warby Parker in the first quarter worth $1,022,000. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in shares of Warby Parker by 2.7% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 98,343 shares of the company's stock worth $1,793,000 after acquiring an additional 2,611 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Up 0.5%

NYSE WRBY traded up $0.13 during trading on Tuesday, reaching $24.62. 160,163 shares of the stock traded hands, compared to its average volume of 2,230,712. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -205.93 and a beta of 2.09. The stock's 50-day moving average price is $22.38 and its 200 day moving average price is $21.06. Warby Parker Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $28.68.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of the 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 completion of the sale, the director owned 53,869 shares of the company's stock, valued at approximately $1,071,993.10. This represents a 38.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Harris Blumenthal sold 49,600 shares of the 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 sale, the chief executive officer directly owned 28,347 shares of the company's stock, valued at $686,280.87. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 83,073 shares of company stock valued at $1,868,573 in the last three months. Company insiders own 18.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WRBY shares. Telsey Advisory Group upped their price objective on Warby Parker from $22.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday. Loop Capital restated a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. Citigroup reiterated a "neutral" rating and issued a $22.00 price target (up from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. JMP Securities reiterated a "market perform" rating on shares of Warby Parker in a report on Thursday, July 10th. Finally, Stifel Nicolaus lifted their price target on Warby Parker from $18.00 to $21.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Warby Parker has an average rating of "Moderate Buy" and an average target price of $23.13.

Warby Parker 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.