Northwest & Ethical Investments L.P. Sells 98,863 Shares of Warby Parker Inc. $WRBY

Key Points

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Northwest & Ethical Investments L.P. lessened its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 62.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,360 shares of the company's stock after selling 98,863 shares during the period. Northwest & Ethical Investments L.P. owned approximately 0.06% of Warby Parker worth $1,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mariner LLC raised its position in shares of Warby Parker by 6.5% during the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock worth $261,000 after purchasing an additional 660 shares during the period. Summit Investment Advisors Inc. raised its position in shares of Warby Parker by 10.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company's stock worth $224,000 after purchasing an additional 840 shares during the period. NewEdge Advisors LLC raised its position in shares of Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,050 shares during the period. Comerica Bank raised its position in shares of Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after purchasing an additional 1,386 shares during the period. Finally, New York State Teachers Retirement System acquired a new stake in shares of Warby Parker during the first quarter worth $27,000. Institutional investors own 93.24% of the company's stock.

Insider Transactions at Warby Parker

In related news, Director Teresa Briggs sold 6,000 shares of Warby Parker 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 in the company, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total value of $1,255,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 106,000 shares of company stock valued at $2,607,280 in the last quarter. 18.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WRBY has been the subject of a number of research reports. Loop Capital restated a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Evercore ISI reiterated a "positive" rating on shares of Warby Parker in a research note on Thursday, August 7th. Citizens Jmp cut Warby Parker from an "outperform" rating to a "market perform" rating in a report on Thursday, July 10th. Citigroup reissued a "neutral" rating and issued a $22.00 target price (up from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. Finally, Robert W. Baird set a $30.00 target price on Warby Parker and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.06.

Warby Parker Stock Up 3.6%

Shares of NYSE:WRBY traded up $0.9480 during midday trading on Friday, reaching $27.0180. The company had a trading volume of 1,098,401 shares, compared to its average volume of 2,231,549. Warby Parker Inc. has a 1-year low of $12.69 and a 1-year high of $29.73. The stock has a market cap of $2.84 billion, a PE ratio of -385.92 and a beta of 2.09. The business's 50 day moving average price is $23.43 and its 200 day moving average price is $21.05.

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.