Harbor Capital Advisors Inc. Buys Shares of 55,586 Warby Parker Inc. $WRBY

Key Points

• Harbor Capital Advisors Inc. acquired 55,586 shares of Warby Parker valued at approximately $1.2 million, representing about 0.05% ownership in the company.
• In the last quarter, company insiders sold a total of 182,084 shares valued at $4.67 million, resulting in a significant decrease in their ownership percentages.
• Several analysts are optimistic about Warby Parker's growth potential, with an average price target of $24.06 and a consensus rating of "Moderate Buy."

Harbor Capital Advisors Inc. purchased a new stake in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 55,586 shares of the company's stock, valued at approximately $1,219,000. Harbor Capital Advisors Inc. owned about 0.05% of Warby Parker as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Kings Path Partners LLC bought a new position in Warby Parker during the second quarter valued at approximately $300,000. Rhumbline Advisers raised its stake in Warby Parker by 5.4% during the 1st quarter. Rhumbline Advisers now owns 130,612 shares of the company's stock valued at $2,381,000 after buying an additional 6,697 shares during the last quarter. Anderson Financial Strategies LLC lifted its holdings in shares of Warby Parker by 39.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company's stock valued at $72,000 after buying an additional 1,109 shares during the period. Strs Ohio purchased a new position in shares of Warby Parker in the 1st quarter worth $294,000. Finally, Intech Investment Management LLC grew its holdings in shares of Warby Parker by 98.4% in the first quarter. Intech Investment Management LLC now owns 81,249 shares of the company's stock worth $1,481,000 after acquiring an additional 40,307 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Warby Parker

In related news, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $1,057,349.24. The trade was a 11.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joel E. Cutler sold 35,000 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the sale, the director owned 19,932 shares of the company's stock, valued at $533,181. This trade represents a 63.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,000 shares of company stock valued at $4,919,941 over the last ninety days. 18.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WRBY shares. Robert W. Baird set a $30.00 price target on shares of Warby Parker and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Piper Sandler restated an "overweight" rating and issued a $25.00 price objective (up from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. Citizens Jmp lowered shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. BTIG Research restated a "buy" rating and set a $28.00 price target (up previously from $24.00) on shares of Warby Parker in a report on Thursday, August 7th. Finally, Evercore ISI restated a "positive" rating on shares of Warby Parker in a report on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.06.

Warby Parker Trading Up 0.4%

Shares of WRBY traded up $0.11 during midday trading on Monday, reaching $28.59. 2,252,855 shares of the stock were exchanged, compared to its average volume of 1,416,499. The company has a market capitalization of $3.01 billion, a P/E ratio of -408.37 and a beta of 2.10. The company's 50 day moving average is $25.54 and its two-hundred day moving average is $21.29. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $29.73.

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.