Bosun Asset Management LLC Has $802,000 Stock Position in Warby Parker Inc. $WRBY

Key Points

• Bosun Asset Management LLC reduced its holdings in Warby Parker Inc. by 52.2%, selling 48,130 shares during the first quarter, leaving them with 44,007 shares worth approximately $802,000.
• Insider selling activity included CEO Neil Harris Blumenthal selling 50,000 shares for over $1.25 million, indicating a 63.82% ownership decrease in the company.
• Wall Street analysts are generally positive on Warby Parker, with an average rating of "Moderate Buy" and a price target of $24.06, reflecting optimism for the company's future growth.

Bosun Asset Management LLC lessened its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 52.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,007 shares of the company's stock after selling 48,130 shares during the period. Bosun Asset Management LLC's holdings in Warby Parker were worth $802,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new position in Warby Parker in the 1st quarter valued at approximately $27,000. Comerica Bank increased its position in shares of Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after purchasing an additional 1,386 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Warby Parker in the first quarter worth $58,000. CWM LLC lifted its position in Warby Parker by 231.9% in the first quarter. CWM LLC now owns 5,855 shares of the company's stock worth $107,000 after purchasing an additional 4,091 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Warby Parker by 4,937.0% during the first quarter. GAMMA Investing LLC now owns 6,800 shares of the company's stock worth $124,000 after buying an additional 6,665 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Warby Parker

In other news, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the sale, the director owned 44,879 shares of the company's stock, valued at $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total transaction of $1,255,500.00. Following the sale, the chief executive officer directly owned 28,347 shares of the company's stock, valued at $711,793.17. This represents a 63.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,000 shares of company stock worth $2,607,280 over the last 90 days. 18.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WRBY. Evercore ISI restated a "positive" rating on shares of Warby Parker in a research note on Thursday, August 7th. UBS Group reaffirmed a "neutral" rating and issued a $23.00 target price (up previously from $20.00) on shares of Warby Parker in a report on Friday, August 8th. BTIG Research reiterated a "buy" rating and set a $28.00 target price (up previously from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Warby Parker in a research report on Friday, August 8th. Finally, TD Securities upped their price objective on shares of Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, Warby Parker has an average rating of "Moderate Buy" and an average price target of $24.06.

Warby Parker Trading Down 0.6%

NYSE WRBY traded down $0.15 on Tuesday, hitting $26.60. 614,330 shares of the company were exchanged, compared to its average volume of 2,169,225. Warby Parker Inc. has a 1-year low of $13.48 and a 1-year high of $29.73. The firm has a 50 day moving average of $24.50 and a two-hundred day moving average of $21.00. The company has a market cap of $2.80 billion, a P/E ratio of -379.85 and a beta of 2.10.

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.