Maverick Capital Ltd. Takes Position in Warby Parker Inc. $WRBY

Key Points

• Maverick Capital Ltd. has invested approximately $5.04 million by purchasing 276,274 shares of Warby Parker Inc., representing around 0.26% ownership of the company.
• Several institutional investors, including NewEdge Advisors LLC and Comerica Bank, have significantly increased their stakes in Warby Parker in recent months, reflecting growing interest in the company's stock.
• Warby Parker's stock has been rated as a "Moderate Buy" by analysts, with a consensus target price of $24.06 and multiple firms setting price targets between $24.00 and $30.00.

Maverick Capital Ltd. acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 276,274 shares of the company's stock, valued at approximately $5,036,000. Maverick Capital Ltd. owned 0.26% of Warby Parker as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WRBY. Nuveen LLC purchased a new position in Warby Parker during the first quarter worth $30,549,000. Durable Capital Partners LP boosted its stake in shares of Warby Parker by 10.3% during the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock valued at $218,322,000 after purchasing an additional 840,797 shares during the period. Broad Bay Capital Management LP purchased a new stake in shares of Warby Parker during the first quarter valued at $14,357,000. Victory Capital Management Inc. boosted its stake in shares of Warby Parker by 6,931.8% during the first quarter. Victory Capital Management Inc. now owns 770,054 shares of the company's stock valued at $14,038,000 after purchasing an additional 759,103 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Warby Parker by 23.7% during the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after purchasing an additional 416,797 shares during the period. 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 business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $25.11, for a total value of $1,255,500.00. Following the completion of the transaction, the chief executive officer directly owned 28,347 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the completion of the transaction, the director owned 44,879 shares of the company's stock, valued at $1,057,349.24. This represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,000 shares of company stock valued at $2,607,280 over the last quarter. 18.24% of the stock is currently owned by corporate insiders.

Warby Parker Price Performance

Warby Parker stock traded up $0.67 during trading hours on Friday, reaching $26.02. The stock had a trading volume of 1,126,735 shares, compared to its average volume of 1,486,249. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -371.59 and a beta of 2.10. The business's 50 day moving average price is $24.40 and its 200-day moving average price is $21.04. Warby Parker Inc. has a 52 week low of $12.69 and a 52 week high of $29.73.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Securities boosted their target price on shares of Warby Parker from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Loop Capital reissued a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Citizens Jmp lowered shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. Evercore ISI restated a "positive" rating on shares of Warby Parker in a report on Thursday, August 7th. Finally, Robert W. Baird set a $30.00 price objective on Warby Parker and gave the company an "outperform" rating in a report on Wednesday, July 30th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Warby Parker presently 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.