EntryPoint Capital LLC Purchases Shares of 21,649 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 acquired a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,649 shares of the company's stock, valued at approximately $395,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Durable Capital Partners LP boosted its holdings in Warby Parker by 10.3% in the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock valued at $218,322,000 after purchasing an additional 840,797 shares in the last quarter. American Century Companies Inc. boosted its holdings in Warby Parker by 14.6% in the 1st quarter. American Century Companies Inc. now owns 2,456,965 shares of the company's stock valued at $44,790,000 after purchasing an additional 312,543 shares in the last quarter. Jennison Associates LLC boosted its holdings in Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after purchasing an additional 416,797 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Warby Parker by 12.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,809,294 shares of the company's stock valued at $43,803,000 after purchasing an additional 199,235 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Warby Parker by 5.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,721,215 shares of the company's stock valued at $31,378,000 after purchasing an additional 88,874 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Warby Parker Stock Up 1.2%

Shares of Warby Parker stock traded up $0.32 during trading on Tuesday, hitting $26.48. 259,676 shares of the company were exchanged, compared to its average volume of 2,212,209. Warby Parker Inc. has a fifty-two week low of $12.69 and a fifty-two week high of $29.73. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -378.25 and a beta of 2.09. The firm has a 50 day moving average price of $23.62 and a 200 day moving average price of $20.97.

Analyst Ratings Changes

Several equities research analysts have recently commented on WRBY shares. The Goldman Sachs Group boosted their price target on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wall Street Zen raised Warby Parker from a "hold" rating to a "buy" rating in a research note on Friday. JMP Securities reissued a "market perform" rating on shares of Warby Parker in a research note on Thursday, July 10th. Loop Capital reissued a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Finally, Cowen reissued a "buy" rating on shares of Warby Parker in a research note on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.06.

Insider Activity at Warby Parker

In related news, Director Teresa Briggs sold 6,000 shares of Warby Parker stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the completion of the transaction, the director directly owned 44,879 shares in the company, valued at $1,057,349.24. The trade was a 11.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total value of $1,255,500.00. Following the transaction, the chief executive officer owned 28,347 shares of the company's stock, valued at $711,793.17. This represents a 63.82% decrease in their ownership of the stock. 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 over the last 90 days. 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.