Cetera Investment Advisers Takes $319,000 Position in Warby Parker Inc. $WRBY

Key Points

• Cetera Investment Advisers has invested approximately $319,000 in Warby Parker, acquiring 17,483 shares of the company during the first quarter of the year.
• Warby Parker's stock has experienced a 3.6% decline recently, trading around $26.35, with a 52-week low of $12.69 and a high of $29.73.
• Insider trading activity includes a significant sale by CEO Neil Blumenthal, who sold 50,000 shares, resulting in a 63.82% reduction of his ownership in the company.

Cetera Investment Advisers purchased a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,483 shares of the company's stock, valued at approximately $319,000.

Other institutional investors have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Warby Parker during the first quarter worth approximately $2,029,000. Jennison Associates LLC lifted its position in shares of Warby Parker by 23.7% during the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after acquiring an additional 416,797 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Warby Parker by 6,931.8% during the 1st quarter. Victory Capital Management Inc. now owns 770,054 shares of the company's stock worth $14,038,000 after purchasing an additional 759,103 shares in the last quarter. CWM LLC grew its holdings in shares of Warby Parker by 231.9% during the 1st quarter. CWM LLC now owns 5,855 shares of the company's stock worth $107,000 after purchasing an additional 4,091 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Warby Parker by 5.4% in the first quarter. Bank of New York Mellon Corp now owns 1,721,215 shares of the company's stock worth $31,378,000 after purchasing an additional 88,874 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Performance

Shares of Warby Parker stock traded up $0.9480 during mid-day trading on Friday, hitting $27.0180. 1,098,401 shares of the stock were exchanged, compared to its average volume of 1,886,181. The company has a 50-day simple moving average of $23.53 and a 200 day simple moving average of $20.97. Warby Parker Inc. has a 12 month low of $12.69 and a 12 month high of $29.73. The company has a market capitalization of $2.84 billion, a P/E ratio of -385.92 and a beta of 2.09.

Insider Buying and Selling at Warby Parker

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citizens Jmp cut shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. Telsey Advisory Group reissued an "outperform" rating and issued a $28.00 price objective on shares of Warby Parker in a research note on Thursday, August 7th. Stifel Nicolaus increased their target price on Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Finally, BTIG Research reaffirmed a "buy" rating and issued a $28.00 price objective (up from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Warby Parker has an average rating of "Moderate Buy" and an average target price of $24.06.

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.