Warby Parker Inc. $WRBY Position Increased by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in Warby Parker by 113.4%, acquiring an additional 15,749 shares, bringing its total holdings to 29,643 shares worth approximately $540,000.
• Several large investors have either initiated or expanded their positions in Warby Parker, showcasing significant institutional interest as they collectively own 93.24% of the company's stock.
• Look for strong analyst sentiment around Warby Parker, with the average rating being "Moderate Buy" and multiple analysts setting price targets between $22.00 and $30.00 per share.

Ieq Capital LLC raised its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 113.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,643 shares of the company's stock after purchasing an additional 15,749 shares during the period. Ieq Capital LLC's holdings in Warby Parker were worth $540,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in WRBY. New York State Teachers Retirement System acquired a new position in Warby Parker in the first quarter worth about $27,000. Comerica Bank increased 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 during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Warby Parker in the first quarter valued at about $58,000. CWM LLC lifted its holdings in shares of Warby Parker by 231.9% in the first quarter. CWM LLC now owns 5,855 shares of the company's stock worth $107,000 after acquiring an additional 4,091 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Warby Parker by 4,937.0% in the 1st quarter. GAMMA Investing LLC now owns 6,800 shares of the company's stock valued at $124,000 after buying an additional 6,665 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Stock Up 4.0%

Warby Parker stock traded up $1.05 during trading hours on Monday, hitting $27.07. The stock had a trading volume of 1,277,814 shares, compared to its average volume of 2,171,180. Warby Parker Inc. has a fifty-two week low of $13.22 and a fifty-two week high of $29.73. The company has a market cap of $2.85 billion, a PE ratio of -386.64 and a beta of 2.10. The company has a 50-day moving average of $24.40 and a two-hundred day moving average of $20.98.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred 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 owned 28,347 shares in the company, valued at $711,793.17. This represents a 63.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Teresa Briggs sold 6,000 shares of Warby Parker 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 transaction, the director directly 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 disclosure for this sale can be found here. Insiders have sold 106,000 shares of company stock valued at $2,607,280 over the last 90 days. Corporate insiders own 18.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WRBY shares. Robert W. Baird set a $30.00 price objective on shares of Warby Parker and gave the stock an "outperform" rating in a report on Wednesday, July 30th. 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. Cowen reaffirmed a "buy" rating on shares of Warby Parker in a research 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 research note on Thursday, May 29th. Finally, Stifel Nicolaus raised their target price on Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.