Bank of America Corp DE Buys 215,959 Shares of Warby Parker Inc. (NYSE:WRBY)

Bank of America Corp DE boosted its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 122.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,868 shares of the company's stock after acquiring an additional 215,959 shares during the period. Bank of America Corp DE owned 0.39% of Warby Parker worth $9,487,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in Warby Parker by 7.5% in the fourth quarter. Northern Trust Corp now owns 811,038 shares of the company's stock valued at $19,635,000 after acquiring an additional 56,674 shares during the last quarter. Shaker Investments LLC OH acquired a new position in Warby Parker in the fourth quarter valued at approximately $279,000. Raymond James Financial Inc. acquired a new position in Warby Parker in the fourth quarter valued at approximately $8,272,000. Jones Financial Companies Lllp lifted its stake in Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after buying an additional 1,028 shares during the period. Finally, Invesco Ltd. lifted its stake in Warby Parker by 69.0% in the fourth quarter. Invesco Ltd. now owns 152,934 shares of the company's stock valued at $3,703,000 after buying an additional 62,462 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Steven Clive Miller sold 11,684 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the sale, the chief financial officer now directly owns 204,727 shares of the company's stock, valued at $4,815,179.04. This trade represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $657,783.84. Following the sale, the chief executive officer now directly owns 23,961 shares of the company's stock, valued at approximately $563,562.72. This represents a 53.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,724 shares of company stock valued at $1,590,744 in the last ninety days. 26.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Cowen reissued a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. UBS Group lowered their target price on Warby Parker from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Telsey Advisory Group lowered their target price on Warby Parker from $30.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group upped their target price on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Warby Parker presently has an average rating of "Moderate Buy" and an average target price of $22.88.

Warby Parker Stock Up 3.4%

NYSE WRBY traded up $0.68 on Thursday, reaching $20.76. The company had a trading volume of 2,083,950 shares, compared to its average volume of 1,910,609. The stock has a market capitalization of $2.17 billion, a P/E ratio of -76.89 and a beta of 2.01. The company's fifty day moving average is $17.02 and its 200 day moving average is $21.62. Warby Parker Inc. has a 52-week low of $12.46 and a 52-week high of $28.68.

Warby Parker Company 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.