Blueshift Asset Management LLC Invests $939,000 in 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 position in Warby Parker Inc. (NYSE:WRBY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 51,534 shares of the company's stock, valued at approximately $939,000.

Several other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System purchased a new position in shares of Warby Parker in the first quarter worth about $27,000. NewEdge Advisors LLC boosted 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 buying an additional 1,050 shares during the period. Comerica Bank boosted 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 buying an additional 1,386 shares during the period. Anderson Financial Strategies LLC purchased a new position in Warby Parker in the 4th quarter valued at approximately $69,000. Finally, CWM LLC raised its holdings in Warby Parker by 231.9% during the 1st quarter. CWM LLC now owns 5,855 shares of the company's stock valued at $107,000 after acquiring an additional 4,091 shares during the period. Hedge funds and other institutional investors own 93.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Securities raised their price target on Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Piper Sandler reissued an "overweight" rating and set a $25.00 price objective (up previously from $20.00) on shares of Warby Parker in a report on Thursday, May 29th. Robert W. Baird set a $30.00 target price on Warby Parker and gave the company an "outperform" rating in a report on Wednesday. Telsey Advisory Group upped their price target on Warby Parker from $22.00 to $28.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Cowen restated a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.13.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total transaction of $658,152.70. Following the completion of the sale, the director directly owned 53,869 shares in the company, valued at $1,071,993.10. This represents a 38.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 49,600 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $24.21, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 83,073 shares of company stock valued at $1,868,573 over the last quarter. Company insiders own 18.24% of the company's stock.

Warby Parker Stock Down 1.4%

NYSE:WRBY traded down $0.34 during midday trading on Friday, hitting $23.61. The company had a trading volume of 1,516,553 shares, compared to its average volume of 1,568,949. The stock's fifty day moving average price is $22.29 and its 200-day moving average price is $21.10. Warby Parker Inc. has a 52-week low of $12.46 and a 52-week high of $28.68. The company has a market capitalization of $2.47 billion, a PE ratio of -196.75 and a beta of 2.09.

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.