Warby Parker Inc. $WRBY Shares Sold by Bosun Asset Management LLC

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 cut its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 52.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 quarter.

A number of other large investors have also made changes to their positions in the business. AQR Capital Management LLC lifted its stake in Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company's stock valued at $3,122,000 after acquiring an additional 86,053 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Warby Parker by 15.9% during the 1st quarter. Advisors Asset Management Inc. now owns 21,829 shares of the company's stock worth $398,000 after purchasing an additional 2,996 shares during the period. 12 West Capital Management LP acquired a new position in shares of Warby Parker during the 1st quarter worth approximately $21,420,000. UNC Management Company Inc. acquired a new position in shares of Warby Parker during the 1st quarter worth approximately $233,000. Finally, PDT Partners LLC raised its stake in shares of Warby Parker by 256.2% during the 1st quarter. PDT Partners LLC now owns 154,036 shares of the company's stock worth $2,808,000 after buying an additional 110,789 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Teresa Briggs sold 6,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $23.56, for a total value 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 represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $25.11, for a total value of $1,255,500.00. Following the sale, the chief executive officer owned 28,347 shares in the company, valued at approximately $711,793.17. This trade represents a 63.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,000 shares of company stock valued at $2,607,280 in the last ninety days. Corporate insiders own 18.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WRBY shares. Zacks Research raised Warby Parker from a "strong sell" rating to a "hold" rating in a research note on Thursday. Stifel Nicolaus raised their target price on Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Robert W. Baird set a $30.00 price target on Warby Parker and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI reissued a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. Finally, Loop Capital reissued a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $24.06.

Warby Parker Stock Up 2.8%

NYSE WRBY traded up $0.72 during trading hours on Monday, hitting $26.74. 2,487,782 shares of the stock were exchanged, compared to its average volume of 2,178,573. Warby Parker Inc. has a 12-month low of $13.22 and a 12-month high of $29.73. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -382.00 and a beta of 2.10. The stock has a 50-day moving average of $24.40 and a 200 day moving average of $20.98.

Warby Parker 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.