Cetera Investment Advisers Buys Shares of 17,483 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 shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,483 shares of the company's stock, valued at approximately $319,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Durable Capital Partners LP increased its position in shares of Warby Parker by 10.3% in the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock worth $218,322,000 after acquiring an additional 840,797 shares in the last quarter. Jennison Associates LLC increased its position in shares of Warby Parker by 23.7% in the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock worth $39,635,000 after acquiring an additional 416,797 shares in the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Warby Parker by 12.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,809,294 shares of the company's stock worth $43,803,000 after acquiring an additional 199,235 shares in the last quarter. 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 acquiring an additional 88,874 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Warby Parker by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,495,189 shares of the company's stock worth $36,199,000 after acquiring an additional 74,996 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on WRBY. Telsey Advisory Group reissued an "outperform" rating and issued a $28.00 price objective on shares of Warby Parker in a research report on Thursday, August 7th. Robert W. Baird set a $30.00 price objective on shares of Warby Parker and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Stifel Nicolaus increased their price objective on shares of Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Roth Capital set a $24.00 target price on shares of Warby Parker and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Piper Sandler restated an "overweight" rating and issued a $25.00 target price (up from $20.00) on shares of Warby Parker in a research note on Thursday, May 29th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.06.

Warby Parker Stock Performance

Shares of Warby Parker stock traded up $0.9480 during trading hours on Friday, reaching $27.0180. The company's stock had a trading volume of 1,098,401 shares, compared to its average volume of 2,231,549. Warby Parker Inc. has a one year low of $12.69 and a one year high of $29.73. The company's 50 day simple moving average is $23.43 and its 200 day simple moving average is $21.05. The stock has a market cap of $2.84 billion, a P/E ratio of -385.92 and a beta of 2.09.

Insider Transactions at Warby Parker

In related news, Director Teresa Briggs sold 6,000 shares of the 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 trade represents a 11.79% decrease in their position. The transaction was disclosed in a legal filing 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 dated 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 completion of the sale, the chief executive officer directly 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. In the last ninety days, insiders sold 106,000 shares of company stock worth $2,607,280. Corporate insiders own 18.24% of the company's stock.

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.