Baillie Gifford & Co. Sells 318,926 Shares of Warby Parker Inc. (NYSE:WRBY)

Key Points

• Baillie Gifford & Co. reduced its stake in Warby Parker Inc. by 14.9%, owning 1,827,764 shares worth approximately $33.32 million after selling 318,926 shares in the first quarter.
• Insider transactions include CEO Neil Harris Blumenthal selling 49,600 shares for $1.2 million, a 63.63% decrease in his ownership.
• Recent analyst ratings are mixed, with Telsey Advisory Group lowering their price target to $22, while the consensus rating remains a "Moderate Buy."

Baillie Gifford & Co. lessened its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 14.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,827,764 shares of the company's stock after selling 318,926 shares during the period. Baillie Gifford & Co. owned approximately 1.75% of Warby Parker worth $33,320,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new position in Warby Parker during the fourth quarter valued at about $694,000. Sei Investments Co. bought a new position in Warby Parker during the fourth quarter valued at about $741,000. KLP Kapitalforvaltning AS bought a new position in Warby Parker during the fourth quarter valued at about $421,000. LPL Financial LLC bought a new position in Warby Parker during the fourth quarter valued at about $476,000. Finally, Geode Capital Management LLC increased its stake in Warby Parker by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company's stock valued at $48,375,000 after acquiring an additional 27,004 shares during the period. Institutional investors and hedge funds own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WRBY shares. Loop Capital restated a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. The Goldman Sachs Group boosted their price target on Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 9th. JMP Securities reiterated a "market perform" rating on shares of Warby Parker in a research note on Thursday, July 10th. Citizens Jmp lowered Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. Finally, Telsey Advisory Group lowered their price objective on Warby Parker from $30.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.75.

Warby Parker Stock Up 0.3%

Shares of NYSE:WRBY traded up $0.08 during midday trading on Wednesday, reaching $23.83. The company had a trading volume of 307,764 shares, compared to its average volume of 2,256,197. The business's 50 day moving average price is $22.00 and its 200 day moving average price is $21.11. The stock has a market cap of $2.49 billion, a PE ratio of -198.83 and a beta of 2.09. Warby Parker Inc. has a 1-year low of $12.46 and a 1-year high of $28.68.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 49,600 shares of the business's 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 completion of the transaction, the chief executive officer directly owned 28,347 shares in the company, valued at $686,280.87. The trade was a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Youngme E. Moon sold 33,073 shares of the business's 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,073 shares of company stock valued at $1,868,573. 18.24% of the stock is currently owned by corporate insiders.

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.