Jennison Associates LLC Increases Position in Warby Parker Inc. (NYSE:WRBY)

Jennison Associates LLC increased its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 23.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,174,158 shares of the company's stock after purchasing an additional 416,797 shares during the quarter. Jennison Associates LLC owned approximately 2.10% of Warby Parker worth $39,635,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in WRBY. Durable Capital Partners LP grew its holdings in Warby Parker by 10.3% during the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock worth $218,322,000 after acquiring an additional 840,797 shares during the last quarter. American Century Companies Inc. grew its holdings in Warby Parker by 64.7% during the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock worth $51,916,000 after acquiring an additional 842,558 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Warby Parker by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company's stock worth $48,478,000 after acquiring an additional 313,100 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Warby Parker by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company's stock valued at $48,375,000 after purchasing an additional 27,004 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Warby Parker by 12.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,809,294 shares of the company's stock valued at $43,803,000 after purchasing an additional 199,235 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WRBY shares. Piper Sandler reiterated an "overweight" rating and issued a $25.00 price target (up from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. Citizens Jmp downgraded shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. The Goldman Sachs Group increased their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 9th. UBS Group cut their price target on shares of Warby Parker from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Finally, TD Securities raised their target price on shares of Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.88.

Warby Parker Trading Up 1.7%

Shares of NYSE WRBY traded up $0.42 during midday trading on Monday, hitting $24.35. The company's stock had a trading volume of 2,149,166 shares, compared to its average volume of 2,308,186. The business's 50 day moving average is $21.23 and its two-hundred day moving average is $21.19. Warby Parker Inc. has a 12-month low of $12.46 and a 12-month high of $28.68. The firm has a market cap of $2.54 billion, a P/E ratio of -202.90 and a beta of 2.09.

Insider Activity

In other news, Director Youngme E. Moon sold 33,073 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total value of $658,152.70. Following the completion of the sale, the director owned 53,869 shares of the company's stock, valued at $1,071,993.10. This trade represents a 38.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.24% of the company's stock.

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.