Blueshift Asset Management LLC Purchases Shares of 51,534 Warby Parker Inc. (NYSE:WRBY)

Key Points

• Blueshift Asset Management LLC has acquired a new position in Warby Parker Inc., purchasing 51,534 shares valued at approximately $939,000 during the first quarter.
• Multiple hedge funds have recently adjusted their stakes in Warby Parker, with institutional investors now owning 93.24% of the company’s stock.
• Analysts have mixed opinions on Warby Parker's stock, with nine maintaining a hold rating and ten rating it as a buy, leading to an average target price of $22.75.

Blueshift Asset Management LLC purchased a new stake in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 51,534 shares of the company's stock, valued at approximately $939,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Durable Capital Partners LP boosted its holdings in shares of Warby Parker by 10.3% in the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock worth $218,322,000 after buying an additional 840,797 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Warby Parker by 6,931.8% in the 1st quarter. Victory Capital Management Inc. now owns 770,054 shares of the company's stock worth $14,038,000 after buying an additional 759,103 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock worth $39,635,000 after buying an additional 416,797 shares during the last quarter. Symmetry Investments LP purchased a new position in shares of Warby Parker in the 4th quarter worth about $8,581,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Warby Parker in the 4th quarter worth about $8,272,000. Institutional investors own 93.24% of the company's stock.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 49,600 shares of the 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 transaction, the chief executive officer directly owned 28,347 shares in the company, valued at $686,280.87. This trade represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Youngme E. Moon sold 33,073 shares of the 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 in the company, valued at $1,071,993.10. The trade was a 38.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,073 shares of company stock worth $1,868,573. 18.24% of the stock is owned by company insiders.

Warby Parker Stock Down 0.1%

Shares of WRBY stock traded down $0.04 during trading on Tuesday, hitting $24.46. The company had a trading volume of 817,943 shares, compared to its average volume of 2,235,505. The stock's 50-day moving average is $22.38 and its two-hundred day moving average is $21.06. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of -203.83 and a beta of 2.09. Warby Parker Inc. has a 52 week low of $12.46 and a 52 week high of $28.68.

Analyst Ratings Changes

WRBY has been the topic of a number of research analyst reports. TD Securities boosted their price target on shares of Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. The Goldman Sachs Group boosted their price target on shares of Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Citizens Jmp downgraded shares of Warby Parker from an "outperform" rating to a "market perform" rating in a report on Thursday, July 10th. Robert W. Baird set a $30.00 price objective on shares of Warby Parker and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Warby Parker presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.13.

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.