American Century Companies Inc. Boosts Stock Position in Warby Parker Inc. $WRBY

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. increased its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,456,965 shares of the company's stock after purchasing an additional 312,543 shares during the period. American Century Companies Inc. owned 2.35% of Warby Parker worth $44,790,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,050 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Warby Parker in the 1st quarter worth approximately $27,000. Comerica Bank lifted its holdings in Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after purchasing an additional 1,386 shares in the last quarter. Anderson Financial Strategies LLC purchased a new position in Warby Parker in the 4th quarter worth approximately $69,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Warby Parker in the 1st quarter worth approximately $58,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer owned 28,347 shares in the company, valued at $711,793.17. The trade was a 63.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction 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 transaction, the director owned 44,879 shares of the company's stock, valued at approximately $1,057,349.24. The trade was a 11.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,000 shares of company stock worth $2,607,280. Corporate insiders own 18.24% of the company's stock.

Warby Parker Trading Up 3.6%

Shares of NYSE WRBY traded up $0.9480 during trading hours on Friday, hitting $27.0180. 1,098,401 shares of the company traded hands, compared to its average volume of 1,882,029. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of -385.92 and a beta of 2.09. The company's 50 day moving average price is $23.53 and its 200 day moving average price is $21.01. Warby Parker Inc. has a 12 month low of $12.69 and a 12 month high of $29.73.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WRBY shares. Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. BTIG Research reaffirmed a "buy" rating and issued a $28.00 price objective (up previously from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th. Citizens Jmp downgraded Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. Cowen reaffirmed a "buy" rating on shares of Warby Parker in a research note on Friday, August 8th. Finally, 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. Eleven 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, the stock has a consensus rating of "Moderate Buy" and an average price target 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.