Bank of America Corp DE Increases Holdings in Warby Parker Inc. (NYSE:WRBY)

Bank of America Corp DE raised its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 122.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 391,868 shares of the company's stock after acquiring an additional 215,959 shares during the quarter. Bank of America Corp DE owned approximately 0.39% of Warby Parker worth $9,487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in Warby Parker during the fourth quarter worth approximately $25,000. NewEdge Advisors LLC raised its holdings in Warby Parker by 700.0% during the fourth 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. Jones Financial Companies Lllp lifted its position in shares of Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after buying an additional 1,028 shares during the last quarter. Comerica Bank boosted its holdings in shares of Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after buying an additional 1,386 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new position in shares of Warby Parker in the 4th quarter valued at $69,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WRBY shares. Loop Capital reissued a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Roth Capital reiterated a "neutral" rating and set a $21.00 target price (up previously from $18.00) on shares of Warby Parker in a research report on Thursday, May 22nd. UBS Group decreased their target price on Warby Parker from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Piper Sandler dropped their price target on Warby Parker from $30.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, Roth Mkm initiated coverage on Warby Parker in a research note on Tuesday, February 25th. They issued a "neutral" rating and a $26.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.56.

Insider Buying and Selling

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

Warby Parker Price Performance

Shares of WRBY stock traded up $0.71 during mid-day trading on Tuesday, hitting $20.52. The stock had a trading volume of 2,659,944 shares, compared to its average volume of 1,902,815. The firm has a market cap of $2.14 billion, a PE ratio of -76.00 and a beta of 2.01. The company's 50-day simple moving average is $16.95 and its 200-day simple moving average is $21.64. Warby Parker Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $28.68.

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.