Nomura Holdings Inc. Invests $1.01 Million in Warby Parker Inc. $WRBY

Key Points

• Nomura Holdings Inc. acquired a new stake in Warby Parker, purchasing 55,439 shares valued at approximately $1,011,000, representing about 0.05% of the company.
• Warby Parker currently enjoys a consensus rating of "Moderate Buy" from analysts, with a price target averaging $24.06 following multiple recent rating updates.
• Insider activity revealed significant sell-offs, with CEO Neil Harris Blumenthal selling 50,000 shares and a total of 106,000 shares sold by insiders over the last three months.

Nomura Holdings Inc. bought a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 55,439 shares of the company's stock, valued at approximately $1,011,000. Nomura Holdings Inc. owned 0.05% of Warby Parker at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Panagora Asset Management Inc. raised its stake in Warby Parker by 9.2% during the first quarter. Panagora Asset Management Inc. now owns 182,724 shares of the company's stock worth $3,331,000 after purchasing an additional 15,319 shares during the period. Magnetar Financial LLC bought a new stake in shares of Warby Parker in the 1st quarter worth about $439,000. Broad Bay Capital Management LP bought a new stake in shares of Warby Parker in the 1st quarter worth about $14,357,000. State of Wyoming bought a new stake in shares of Warby Parker during the 1st quarter valued at about $157,000. Finally, Trexquant Investment LP grew its position in shares of Warby Parker by 232.7% during the 1st quarter. Trexquant Investment LP now owns 538,909 shares of the company's stock valued at $9,824,000 after buying an additional 376,936 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reaffirmed an "overweight" rating and issued a $25.00 price target (up from $20.00) on shares of Warby Parker in a research note on Thursday, May 29th. Telsey Advisory Group restated an "outperform" rating and set a $28.00 price target on shares of Warby Parker in a report on Thursday, August 7th. BTIG Research restated a "buy" rating and set a $28.00 price target (up previously from $24.00) on shares of Warby Parker in a report on Thursday, August 7th. Evercore ISI reiterated a "positive" rating on shares of Warby Parker in a research note on Thursday, August 7th. Finally, Citizens Jmp lowered shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Warby Parker currently has a consensus rating of "Moderate Buy" and an average price target of $24.06.

Warby Parker Stock Down 0.6%

Shares of WRBY stock traded down $0.16 during trading on Tuesday, reaching $26.60. The company's stock had a trading volume of 426,848 shares, compared to its average volume of 2,167,903. The business has a fifty day moving average price of $24.50 and a 200-day moving average price of $21.00. Warby Parker Inc. has a one year low of $13.48 and a one year high of $29.73. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -376.95 and a beta of 2.10.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the 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 owned 28,347 shares of the company's stock, valued at approximately $711,793.17. This represents a 63.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction 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. This trade represents a 11.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,000 shares of company stock worth $2,607,280 over the last 90 days. 18.24% of the stock is currently owned by corporate insiders.

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.