AlphaQuest LLC Acquires 13,393 Shares of Warby Parker Inc. $WRBY

Key Points

• AlphaQuest LLC significantly increased its stake in Warby Parker Inc., acquiring 13,393 additional shares, bringing its total holdings to approximately 13,730 shares valued at around $250,000.
• Multiple institutional investors, including Mariner LLC and NewEdge Advisors LLC, have also increased their holdings in Warby Parker, contributing to over 93% of the stock being owned by institutional investors.
• Equities analysts generally maintain a positive outlook on Warby Parker, with a majority rating the stock as a "Buy" and setting an average target price of $24.06.

AlphaQuest LLC increased its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 3,974.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,730 shares of the company's stock after purchasing an additional 13,393 shares during the quarter. AlphaQuest LLC's holdings in Warby Parker were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Durable Capital Partners LP grew its position in shares of Warby Parker by 10.3% during the fourth 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 in the last quarter. American Century Companies Inc. grew its position in shares of Warby Parker by 14.6% during the first quarter. American Century Companies Inc. now owns 2,456,965 shares of the company's stock worth $44,790,000 after purchasing an additional 312,543 shares in the last quarter. Jennison Associates LLC grew its position in shares of Warby Parker by 23.7% during the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock worth $39,635,000 after purchasing an additional 416,797 shares in the last quarter. D. E. Shaw & Co. Inc. grew 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 worth $43,803,000 after purchasing an additional 199,235 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Warby Parker by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 1,721,215 shares of the company's stock worth $31,378,000 after purchasing an additional 88,874 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 28,347 shares of the company's stock, valued at $711,793.17. This trade represents a 63.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $23.56, for a total value of $141,360.00. Following the completion of the sale, the director directly owned 44,879 shares of the company's stock, valued at $1,057,349.24. The trade was a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,000 shares of company stock valued at $2,607,280 over the last ninety days. Corporate insiders own 18.24% of the company's stock.

Warby Parker Price Performance

Shares of NYSE:WRBY traded down $0.36 during trading on Wednesday, hitting $25.19. The company had a trading volume of 445,600 shares, compared to its average volume of 2,184,444. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -359.32 and a beta of 2.10. Warby Parker Inc. has a one year low of $12.69 and a one year high of $29.73. The company has a fifty day simple moving average of $24.17 and a two-hundred day simple moving average of $21.01.

Wall Street Analyst Weigh In

WRBY has been the subject of several research analyst reports. Roth Capital set a $24.00 target price on Warby Parker and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Robert W. Baird set a $30.00 price target on Warby Parker and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Citizens Jmp lowered Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. JMP Securities reissued a "market perform" rating on shares of Warby Parker in a research note on Thursday, July 10th. Finally, Citigroup reissued a "neutral" rating and set a $22.00 price target (up from $17.00) on shares of Warby Parker in a research note on Wednesday, May 21st. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.06.

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.