Fox Run Management L.L.C. Buys Shares of 30,298 Warby Parker Inc. $WRBY

Key Points

• Fox Run Management L.L.C. invested approximately $552,000 in Warby Parker Inc., acquiring 30,298 shares during the first quarter of the year.
• Insider transactions show significant sales, with CEO Neil Blumenthal selling 50,000 shares and Director Youngme E. Moon selling 33,073 shares, representing decreases of 63.82% and 38.04% in their holdings, respectively.
• Warby Parker has a consensus rating of "Moderate Buy" among analysts, with target prices ranging from $20.00 to $28.00.

Fox Run Management L.L.C. acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,298 shares of the company's stock, valued at approximately $552,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WRBY. New York State Teachers Retirement System acquired a new stake in Warby Parker during the 1st quarter worth about $27,000. NewEdge Advisors LLC lifted its holdings in shares of Warby Parker by 700.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,050 shares in the last quarter. Comerica Bank lifted its holdings in shares of Warby Parker by 153.1% in the fourth quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after purchasing an additional 1,386 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Warby Parker in the first quarter valued at $58,000. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Warby Parker in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 93.24% of the company's stock.

Insider Buying and Selling at Warby Parker

In related news, Director Teresa Briggs sold 6,000 shares of the stock in a transaction 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 sale, the director directly owned 44,879 shares in the company, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction 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 sale, the chief executive officer owned 28,347 shares of the company's stock, valued at approximately $711,793.17. This represents a 63.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,000 shares of company stock valued at $2,607,280. 18.24% of the stock is owned by corporate insiders.

Warby Parker Stock Performance

Shares of NYSE:WRBY traded up $0.9480 during midday trading on Friday, hitting $27.0180. 1,098,401 shares of the stock were exchanged, compared to its average volume of 1,882,029. Warby Parker Inc. has a 52-week low of $12.69 and a 52-week high of $29.73. The business's fifty day simple moving average is $23.53 and its two-hundred day simple moving average is $21.01. The company has a market capitalization of $2.84 billion, a PE ratio of -385.92 and a beta of 2.09.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WRBY. Robert W. Baird set a $30.00 target price on Warby Parker and gave the company an "outperform" rating in a report on Wednesday, July 30th. Cowen restated a "buy" rating on shares of Warby Parker in a report on Friday, August 8th. Piper Sandler restated an "overweight" rating and issued a $25.00 target price (up previously from $20.00) on shares of Warby Parker in a report on Thursday, May 29th. Stifel Nicolaus upped their price objective on shares of Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Finally, Evercore ISI reiterated a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Warby Parker has an average rating of "Moderate Buy" and a consensus target price of $24.06.

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.