Hsbc Holdings PLC Has $624,000 Stock Position in Warby Parker Inc. $WRBY

Key Points

• Hsbc Holdings PLC reduced its stake in Warby Parker Inc. by 40.8%, holding 34,659 shares valued at $624,000 after selling 23,891 shares in the first quarter.
• Other institutional investors increased their stakes, with Nuveen LLC acquiring a new position worth $30.5 million, and Victory Capital Management Inc. boosting its holdings by a remarkable 6,931.8% in the same period.
• Wall Street analysts maintain a generally positive outlook for Warby Parker, with the average target price set at $24.06 and eleven analysts rating the stock as a "Buy."

Hsbc Holdings PLC lowered its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 40.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,659 shares of the company's stock after selling 23,891 shares during the quarter. Hsbc Holdings PLC's holdings in Warby Parker were worth $624,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Mariner LLC lifted its position in Warby Parker by 6.5% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock valued at $261,000 after buying an additional 660 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,050 shares during the period. Comerica Bank increased its stake in shares of Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after buying an additional 1,386 shares during the period. New York State Teachers Retirement System purchased a new position in Warby Parker in the first quarter valued at approximately $27,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Warby Parker by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 744,589 shares of the company's stock valued at $13,574,000 after purchasing an additional 2,039 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. BTIG Research restated a "buy" rating and set a $28.00 target price (up from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Wall Street Zen raised Warby Parker from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Roth Capital set a $24.00 target price on shares of Warby Parker and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Loop Capital reissued a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $28.00 price objective on shares of Warby Parker in a research note on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.06.

Insider Buying and Selling

In other news, Director Teresa Briggs sold 6,000 shares of the 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 sale, the director directly owned 44,879 shares in the company, valued at approximately $1,057,349.24. This represents a 11.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $25.11, for a total value of $1,255,500.00. Following the completion of the sale, the chief executive officer owned 28,347 shares in the company, 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. Insiders have sold a total of 106,000 shares of company stock worth $2,607,280 over the last quarter. Insiders own 18.24% of the company's stock.

Warby Parker Stock Down 0.2%

NYSE:WRBY traded down $0.06 during trading hours on Thursday, reaching $25.20. 488,673 shares of the stock were exchanged, compared to its average volume of 2,177,004. The firm has a 50 day simple moving average of $24.24 and a 200-day simple moving average of $21.04. Warby Parker Inc. has a 52 week low of $12.69 and a 52 week high of $29.73. The stock has a market capitalization of $2.65 billion, a P/E ratio of -359.93 and a beta of 2.10.

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.