Invesco Ltd. Lowers Position in Warby Parker Inc. $WRBY

Key Points

• Invesco Ltd. cut its stake in Warby Parker Inc. by 20.5%, now owning approximately 0.12% of the company, valued at around $2.22 million.
• CEO Neil Harris Blumenthal sold 50,000 shares on August 13, representing a significant 63.82% decrease in his ownership.
• Analyst ratings for Warby Parker show a consensus of "Moderate Buy" with an average price target of $24.06.

Invesco Ltd. lessened its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 20.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,526 shares of the company's stock after selling 31,408 shares during the quarter. Invesco Ltd. owned 0.12% of Warby Parker worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of WRBY. New York State Teachers Retirement System bought a new position in Warby Parker in the 1st quarter valued at $27,000. NewEdge Advisors LLC grew its stake in Warby Parker by 700.0% in the 4th 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 during the period. Comerica Bank grew its stake in Warby Parker by 153.1% in the 4th 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 period. Anderson Financial Strategies LLC bought a new position in Warby Parker in the 4th quarter valued at $69,000. Finally, CWM LLC grew its stake in Warby Parker by 231.9% in the 1st quarter. CWM LLC now owns 5,855 shares of the company's stock valued at $107,000 after purchasing an additional 4,091 shares during the period. Institutional investors own 93.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group reaffirmed a "neutral" rating and set a $23.00 price target (up previously from $20.00) on shares of Warby Parker in a research report on Friday, August 8th. Cowen reaffirmed a "buy" rating on shares of Warby Parker in a research report on Friday, August 8th. Piper Sandler reaffirmed an "overweight" rating and set a $25.00 price target (up previously from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. TD Securities upped their price target on Warby Parker from $20.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Roth Capital set a $24.00 price target on Warby Parker and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.06.

Warby Parker Stock Down 0.3%

WRBY traded down $0.09 during trading on Thursday, reaching $25.17. 103,274 shares of the company were exchanged, compared to its average volume of 2,174,552. The company's 50-day moving average is $24.24 and its two-hundred day moving average is $21.04. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -359.53 and a beta of 2.10. Warby Parker Inc. has a 12-month low of $12.69 and a 12-month high of $29.73.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated 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 approximately $711,793.17. This represents a 63.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 6,000 shares of the stock in a transaction dated 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 $1,057,349.24. This trade represents a 11.79% decrease in their position. 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 in the last three months. 18.24% of the stock is currently owned by insiders.

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.