Warby Parker Inc. $WRBY Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Warby Parker by 14.6%, now owning 2,456,965 shares valued at approximately $44.79 million, according to its recent SEC filing.
• Warby Parker's stock has shown significant price target updates from analysts, with an average target price of $24.06 and a notable number of analysts rating it as a "Moderate Buy."
• Significant insider trading activity occurred, with CEO Neil Harris Blumenthal selling 50,000 shares for over $1.25 million, leading to a 63.82% decrease in his ownership stake.

American Century Companies Inc. raised its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,456,965 shares of the company's stock after buying an additional 312,543 shares during the period. American Century Companies Inc. owned about 2.35% of Warby Parker worth $44,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Durable Capital Partners LP boosted its position in Warby Parker by 10.3% in the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock valued at $218,322,000 after buying an additional 840,797 shares during the period. Jennison Associates LLC boosted its position in Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after buying an additional 416,797 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Warby Parker by 12.4% in the 4th 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 period. Bank of New York Mellon Corp boosted its position in Warby Parker by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,721,215 shares of the company's stock valued at $31,378,000 after buying an additional 88,874 shares during the period. Finally, Nuveen LLC purchased a new stake in Warby Parker in the 1st quarter valued at about $30,549,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Stock Up 2.1%

Shares of NYSE WRBY traded up $0.56 during trading hours on Tuesday, hitting $26.72. 1,169,586 shares of the stock were exchanged, compared to its average volume of 1,862,666. The company has a market cap of $2.81 billion, a PE ratio of -381.69 and a beta of 2.09. The firm has a fifty day moving average price of $23.72 and a 200-day moving average price of $21.01. Warby Parker Inc. has a 12 month low of $12.69 and a 12 month high of $29.73.

Insider Activity at Warby Parker

In related news, Director Teresa Briggs sold 6,000 shares of the business'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 transaction of $141,360.00. Following the completion of the transaction, the director owned 44,879 shares in the company, valued at $1,057,349.24. The trade was a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business'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 transaction of $1,255,500.00. Following the transaction, the chief executive officer owned 28,347 shares of the company's stock, 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 have sold 106,000 shares of company stock valued at $2,607,280. 18.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WRBY. Cowen reissued a "buy" rating on shares of Warby Parker in a research report on Friday, August 8th. BTIG Research reissued a "buy" rating and issued a $28.00 price objective (up from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Evercore ISI reaffirmed a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. Roth Capital set a $24.00 price target on shares of Warby Parker and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Warby Parker from a "hold" rating to a "buy" rating in a research report on Friday. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Warby Parker 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.