Dynamic Technology Lab Private Ltd Invests $656,000 in Warby Parker Inc. $WRBY

Key Points

• Dynamic Technology Lab Private Ltd acquired a new stake in Warby Parker, purchasing 35,997 shares valued at approximately $656,000, highlighting institutional investment interest in the company.
• Several institutional investors, including Durable Capital Partners LLC and American Century Companies Inc., have increased their stakes, with institutional ownership now at 93.24% of the company's stock.
• Analysts have mixed ratings on Warby Parker shares, with eleven giving a "Buy" rating and a consensus price target of $24.06, while some have shifted to a "Hold" rating recently.

Dynamic Technology Lab Private Ltd purchased a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 35,997 shares of the company's stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. New York State Teachers Retirement System acquired a new stake in Warby Parker in the 1st quarter valued at about $27,000. Comerica Bank raised its holdings in Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after acquiring an additional 1,386 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Warby Parker in the 1st quarter valued at about $58,000. CWM LLC raised its holdings in Warby Parker by 231.9% in the 1st quarter. CWM LLC now owns 5,855 shares of the company's stock valued at $107,000 after acquiring an additional 4,091 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Warby Parker by 4,937.0% in the 1st quarter. GAMMA Investing LLC now owns 6,800 shares of the company's stock valued at $124,000 after acquiring an additional 6,665 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JMP Securities reiterated a "market perform" rating on shares of Warby Parker in a report on Thursday, July 10th. Zacks Research upgraded shares of Warby Parker from a "strong sell" rating to a "hold" rating in a report on Thursday, September 4th. Loop Capital restated a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. UBS Group restated a "neutral" rating and set a $23.00 price target (up previously from $20.00) on shares of Warby Parker in a report on Friday, August 8th. Finally, Cowen restated a "buy" rating on shares of Warby Parker in a report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Warby Parker currently has a consensus rating of "Moderate Buy" and an average price target of $24.06.

Warby Parker Trading Down 2.9%

Warby Parker stock traded down $0.80 during trading on Friday, hitting $26.76. The company had a trading volume of 1,533,925 shares, compared to its average volume of 1,344,838. The company's 50 day simple moving average is $24.90 and its 200-day simple moving average is $21.14. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -382.16 and a beta of 2.10. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $29.73.

Insiders Place Their Bets

In other Warby Parker news, Director Teresa Briggs sold 6,000 shares of the business'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 completion of the transaction, the director owned 44,879 shares in the company, valued at $1,057,349.24. The trade was a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joel E. Cutler sold 35,000 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $26.75, for a total transaction of $936,250.00. Following the completion of the transaction, the director owned 19,932 shares of the company's stock, valued at approximately $533,181. This trade represents a 63.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,000 shares of company stock worth $3,543,530 over the last 90 days. Corporate 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.