24,065 Shares in Warby Parker Inc. $WRBY Acquired by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has acquired 24,065 shares of Warby Parker Inc., valued at approximately $439,000, marking a significant institutional investment in the company.
• Multiple institutional investors including Mariner LLC and NewEdge Advisors LLC have recently adjusted their holdings in Warby Parker, indicating growing interest among large investors.
• Analysts have set varying price targets for Warby Parker, with ratings from "buy" to "neutral," reflecting differing opinions on the stock's potential performance.

Magnetar Financial LLC purchased a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 24,065 shares of the company's stock, valued at approximately $439,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WRBY. Broad Bay Capital Management LP purchased a new position in shares of Warby Parker during the first quarter worth about $14,357,000. State of Wyoming acquired a new stake in shares of Warby Parker in the 1st quarter valued at about $157,000. Trexquant Investment LP grew its stake in Warby Parker by 232.7% during the 1st quarter. Trexquant Investment LP now owns 538,909 shares of the company's stock worth $9,824,000 after buying an additional 376,936 shares during the last quarter. Landscape Capital Management L.L.C. increased its position in Warby Parker by 14.9% during the first quarter. Landscape Capital Management L.L.C. now owns 94,846 shares of the company's stock worth $1,729,000 after buying an additional 12,290 shares during the period. Finally, Mission Creek Capital Partners Inc. acquired a new position in Warby Parker during the first quarter worth approximately $1,597,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $23.56, for a total value 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. 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 insiders.

Warby Parker Stock Up 2.6%

Shares of Warby Parker stock traded up $0.67 during trading on Friday, reaching $26.02. The company's stock had a trading volume of 1,126,735 shares, compared to its average volume of 1,411,286. The business has a 50 day moving average price of $24.40 and a 200-day moving average price of $20.98. Warby Parker Inc. has a 12-month low of $12.69 and a 12-month high of $29.73. The company has a market capitalization of $2.74 billion, a P/E ratio of -371.59 and a beta of 2.10.

Wall Street Analysts Forecast Growth

WRBY has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Wall Street Zen lowered shares of Warby Parker from a "buy" rating to a "hold" rating in a research note on Sunday. Roth Capital set a $24.00 target price on shares of Warby Parker and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Zacks Research raised Warby Parker from a "strong sell" rating to a "hold" rating in a report on Thursday. Finally, Evercore ISI restated a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.