EntryPoint Capital LLC Makes New Investment in Warby Parker Inc. $WRBY

Key Points

• EntryPoint Capital LLC has acquired a new stake in Warby Parker, purchasing 21,649 shares worth approximately $395,000.
• A significant majority of Warby Parker's stock, about 93.24%, is currently owned by institutional investors, indicating strong interest from large funds.
• Warby Parker has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $24.06.

EntryPoint Capital LLC purchased a new position in Warby Parker Inc. (NYSE:WRBY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 21,649 shares of the company's stock, valued at approximately $395,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WRBY. LPL Financial LLC purchased a new position in Warby Parker in the 4th quarter worth approximately $476,000. Wells Fargo & Company MN grew its stake in Warby Parker by 103.4% in the 4th quarter. Wells Fargo & Company MN now owns 63,575 shares of the company's stock worth $1,539,000 after buying an additional 32,315 shares in the last quarter. Invesco Ltd. grew its stake in Warby Parker by 69.0% in the 4th quarter. Invesco Ltd. now owns 152,934 shares of the company's stock worth $3,703,000 after buying an additional 62,462 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Warby Parker in the 4th quarter worth approximately $8,272,000. Finally, Mariner LLC grew its stake in Warby Parker by 6.5% in the 4th quarter. Mariner LLC now owns 10,772 shares of the company's stock worth $261,000 after buying an additional 660 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cowen reissued a "buy" rating on shares of Warby Parker in a research note on Friday, August 8th. BTIG Research reaffirmed a "buy" rating and issued a $28.00 price objective (up previously from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th. Evercore ISI reaffirmed a "positive" rating on shares of Warby Parker in a research note on Thursday, August 7th. Citizens Jmp cut shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. Finally, Roth Capital set a $24.00 price objective on shares of Warby Parker and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $24.06.

Warby Parker Price Performance

WRBY traded up $0.9480 during trading on Friday, hitting $27.0180. 1,098,401 shares of the stock traded hands, compared to its average volume of 1,882,029. The firm has a market capitalization of $2.84 billion, a P/E ratio of -385.92 and a beta of 2.09. The firm has a 50-day moving average of $23.53 and a 200 day moving average of $21.01. Warby Parker Inc. has a 12-month low of $12.69 and a 12-month high of $29.73.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Teresa Briggs sold 6,000 shares of the 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 completion of the sale, the director owned 44,879 shares of the company's stock, valued at $1,057,349.24. This represents a 11.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the 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 directly owned 28,347 shares of the company's stock, valued at $711,793.17. The trade was a 63.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,000 shares of company stock valued at $2,607,280 in the last three months. 18.24% of the stock is currently owned by corporate 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.