Magnetar Financial LLC Takes $439,000 Position in Warby Parker Inc. $WRBY

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 first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,065 shares of the company's stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Warby Parker in the 1st quarter valued at $2,029,000. New York State Teachers Retirement System bought a new position in shares of Warby Parker during the first quarter worth about $27,000. Jennison Associates LLC increased its holdings in shares of Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after acquiring an additional 416,797 shares during the last quarter. Northern Trust Corp lifted its position in shares of Warby Parker by 7.5% in the 4th quarter. Northern Trust Corp now owns 811,038 shares of the company's stock worth $19,635,000 after buying an additional 56,674 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Warby Parker in the first quarter valued at approximately $602,000. Institutional investors and hedge funds own 93.24% of the company's stock.

Insider Buying and Selling

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer owned 28,347 shares in the company, valued at $711,793.17. The trade was a 63.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Teresa Briggs sold 6,000 shares of the firm's 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 transaction, the director owned 44,879 shares in the company, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,000 shares of company stock valued at $2,607,280 in the last quarter. Corporate insiders own 18.24% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WRBY shares. The Goldman Sachs Group lifted their price objective 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. Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a report on Wednesday, May 21st. BTIG Research reiterated a "buy" rating and set a $28.00 price objective (up from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Piper Sandler restated an "overweight" rating and issued a $25.00 target price (up from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. Finally, Citigroup reaffirmed a "neutral" rating and set a $22.00 target price (up previously from $17.00) on shares of Warby Parker in a research note on Wednesday, May 21st. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.06.

Warby Parker Stock Performance

Shares of NYSE WRBY traded up $0.67 during mid-day trading on Friday, reaching $26.02. The company had a trading volume of 1,126,735 shares, compared to its average volume of 2,176,755. The stock has a market capitalization of $2.74 billion, a PE ratio of -371.59 and a beta of 2.10. The stock's 50 day moving average is $24.32 and its 200-day moving average is $21.04. Warby Parker Inc. has a twelve month low of $12.69 and a twelve month high of $29.73.

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.