Connor Clark & Lunn Investment Management Ltd. Has $5.09 Million Position in Warby Parker Inc. (NYSE:WRBY)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Warby Parker by 62.1%, owning 279,403 shares worth approximately $5.09 million as of the latest filing.
• Wall Street analysts have mixed ratings on Warby Parker, with price targets ranging from $20.00 to $30.00 and an overall consensus rating of "Moderate Buy."
• Insider activity has seen significant sales, including a 63.63% decrease in ownership by CEO Neil Harris Blumenthal, highlighting potential shifts in confidence among company leaders.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 62.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 279,403 shares of the company's stock after purchasing an additional 106,992 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.27% of Warby Parker worth $5,094,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in WRBY. LPL Financial LLC acquired a new position in Warby Parker in the fourth quarter valued at about $476,000. Geode Capital Management LLC increased its position in shares of Warby Parker by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company's stock worth $48,375,000 after purchasing an additional 27,004 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Warby Parker by 103.4% in the 4th quarter. Wells Fargo & Company MN now owns 63,575 shares of the company's stock valued at $1,539,000 after buying an additional 32,315 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Warby Parker by 19.5% in the 4th quarter. Bank of Montreal Can now owns 40,270 shares of the company's stock valued at $975,000 after buying an additional 6,559 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Warby Parker by 69.0% in the 4th quarter. Invesco Ltd. now owns 152,934 shares of the company's stock valued at $3,703,000 after buying an additional 62,462 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of recent analyst reports. Robert W. Baird set a $30.00 price objective on Warby Parker and gave the company an "outperform" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group lifted their price objective on Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 9th. Citigroup reaffirmed a "neutral" rating and issued a $22.00 price objective (up from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. Roth Capital set a $24.00 price target on Warby Parker and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, UBS Group restated a "neutral" rating and set a $23.00 price objective (up previously from $20.00) on shares of Warby Parker in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.06.

Warby Parker Stock Performance

Warby Parker stock opened at $24.39 on Wednesday. The stock's 50 day simple moving average is $22.75 and its two-hundred day simple moving average is $21.02. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -348.35 and a beta of 2.09. Warby Parker Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $29.73.

Insider Activity at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of the business's stock in a transaction on 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 approximately $1,071,993.10. The trade was a 38.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 49,600 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $24.21, for a total transaction of $1,200,816.00. Following the sale, the chief executive officer owned 28,347 shares of the company's stock, valued at approximately $686,280.87. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 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.

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.

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