Warby Parker Inc. $WRBY Position Raised 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 boosted its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 113.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,643 shares of the company's stock after buying an additional 15,749 shares during the quarter. Ieq Capital LLC's holdings in Warby Parker were worth $540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hershey Trust Co. bought a new stake in Warby Parker in the first quarter valued at about $1,167,000. Jump Financial LLC increased its holdings in Warby Parker by 96.9% in the first quarter. Jump Financial LLC now owns 386,783 shares of the company's stock valued at $7,051,000 after buying an additional 190,383 shares during the last quarter. AlphaQuest LLC increased its holdings in Warby Parker by 3,974.2% in the first quarter. AlphaQuest LLC now owns 13,730 shares of the company's stock valued at $250,000 after buying an additional 13,393 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Warby Parker in the first quarter valued at about $1,776,000. Finally, EntryPoint Capital LLC bought a new stake in Warby Parker in the first quarter valued at about $395,000. 93.24% of the stock is owned by institutional investors.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was 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 of the company's stock, valued at $711,793.17. The trade was a 63.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $23.56, for a total value of $141,360.00. Following the sale, the director directly owned 44,879 shares in the company, valued at approximately $1,057,349.24. The trade was a 11.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,000 shares of company stock worth $2,607,280. 18.24% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Telsey Advisory Group reissued an "outperform" rating and issued a $28.00 target price on shares of Warby Parker in a report on Thursday, August 7th. Citizens Jmp cut shares of Warby Parker from an "outperform" rating to a "market perform" rating in a report on Thursday, July 10th. Roth Capital set a $24.00 target price on shares of Warby Parker and gave the stock a "neutral" rating in a report on Tuesday, August 5th. BTIG Research reissued a "buy" rating and issued a $28.00 target price (up previously from $24.00) on shares of Warby Parker in a report on Thursday, August 7th. Finally, Robert W. Baird set a $30.00 target price on shares of Warby Parker and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.06.

Warby Parker Price Performance

Shares of NYSE WRBY traded down $0.36 during midday trading on Tuesday, hitting $26.39. 339,785 shares of the company's stock were exchanged, compared to its average volume of 2,167,391. Warby Parker Inc. has a twelve month low of $13.48 and a twelve month high of $29.73. The firm has a market cap of $2.78 billion, a P/E ratio of -378.97 and a beta of 2.10. The stock's 50 day moving average price is $24.50 and its 200-day moving average price is $21.00.

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.