Warby Parker Inc. $WRBY Shares Bought by Durable Capital Partners LP

Key Points

• Durable Capital Partners LP increased its stake in Warby Parker Inc. by 13.2%, now holding over 10 million shares, representing 1.7% of its portfolio.
• Institutional investors own 93.24% of Warby Parker's stock, with several firms recently raising their positions, indicating growing institutional confidence.
• Warby Parker's stock has fluctuated between a one-year low of $12.69 and a high of $29.73, currently trading at around $26.16.

Durable Capital Partners LP grew its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 13.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,212,383 shares of the company's stock after buying an additional 1,194,558 shares during the period. Warby Parker accounts for 1.7% of Durable Capital Partners LP's holdings, making the stock its 26th biggest position. Durable Capital Partners LP owned 9.77% of Warby Parker worth $186,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in WRBY. Nuveen LLC purchased a new position in shares of Warby Parker in the first quarter worth $30,549,000. Broad Bay Capital Management LP purchased a new position in shares of Warby Parker in the first quarter worth $14,357,000. Victory Capital Management Inc. raised its holdings in shares of Warby Parker by 6,931.8% in the first quarter. Victory Capital Management Inc. now owns 770,054 shares of the company's stock worth $14,038,000 after buying an additional 759,103 shares during the last quarter. Jennison Associates LLC raised its holdings 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 buying an additional 416,797 shares during the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of Warby Parker by 232.7% in the first quarter. Trexquant Investment LP now owns 538,909 shares of the company's stock worth $9,824,000 after buying an additional 376,936 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WRBY shares. Roth Capital set a $24.00 price target on shares of Warby Parker and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Robert W. Baird set a $30.00 price target on shares of Warby Parker and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Zacks Research raised shares of Warby Parker from a "strong sell" rating to a "hold" rating in a report on Thursday. Piper Sandler reiterated an "overweight" rating and issued a $25.00 price objective (up previously from $20.00) on shares of Warby Parker in a research note on Thursday, May 29th. Finally, Loop Capital reiterated a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.06.

Warby Parker Stock Up 2.6%

Shares of NYSE:WRBY traded up $0.67 during midday trading on Friday, reaching $26.02. The company's stock had a trading volume of 1,126,735 shares, compared to its average volume of 1,486,249. The firm has a market capitalization of $2.74 billion, a PE ratio of -371.59 and a beta of 2.10. Warby Parker Inc. has a twelve month low of $12.69 and a twelve month high of $29.73. The stock has a fifty day moving average of $24.40 and a 200 day moving average of $21.04.

Insider Buying and Selling at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were 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 in the company, valued at approximately $1,057,349.24. This represents a 11.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,000 shares of company stock worth $2,607,280. 18.24% of the stock is owned by company insiders.

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.