OMERS ADMINISTRATION Corp Buys 59,600 Shares of Warby Parker Inc. $WRBY

Key Points

• OMERS ADMINISTRATION Corp has increased its holdings in Warby Parker Inc. by 266.1%, acquiring an additional 59,600 shares during the first quarter, bringing its total to 82,000 shares valued at approximately $1.5 million.
• Insider trading activity includes Director Teresa Briggs selling 6,000 shares and CEO Neil Harris Blumenthal selling 50,000 shares, representing significant decreases in their ownership stakes.
• Analysts have given Warby Parker a consensus rating of "Moderate Buy" with an average price target of $24.06, indicating a positive outlook on the stock's performance.

OMERS ADMINISTRATION Corp increased its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 266.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,000 shares of the company's stock after buying an additional 59,600 shares during the quarter. OMERS ADMINISTRATION Corp owned 0.08% of Warby Parker worth $1,495,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WRBY. Nuveen LLC purchased a new position in shares of Warby Parker in the first quarter worth approximately $30,549,000. Durable Capital Partners LP boosted its holdings in shares of Warby Parker by 10.3% in the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock worth $218,322,000 after buying an additional 840,797 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Warby Parker by 6,931.8% in the first quarter. Victory Capital Management Inc. now owns 770,054 shares of the company's stock worth $14,038,000 after buying an additional 759,103 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Warby Parker by 23.7% in the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock worth $39,635,000 after buying an additional 416,797 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Warby Parker by 14.6% in the first quarter. American Century Companies Inc. now owns 2,456,965 shares of the company's stock worth $44,790,000 after buying an additional 312,543 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WRBY. Roth Capital set a $24.00 price objective on shares of Warby Parker and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Robert W. Baird set a $30.00 price target on shares of Warby Parker and gave the company an "outperform" rating in a report on Wednesday, July 30th. Cowen reaffirmed a "buy" rating on shares of Warby Parker in a report on Friday, August 8th. Citigroup reaffirmed a "neutral" rating and set a $22.00 price target (up previously from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $25.00 price target (up previously from $20.00) on shares of Warby Parker in a report on Thursday, May 29th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $24.06.

Warby Parker Stock Up 0.6%

NYSE:WRBY traded up $0.15 during trading hours on Thursday, hitting $25.41. 1,447,714 shares of the stock traded hands, compared to its average volume of 2,183,005. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -362.88 and a beta of 2.10. Warby Parker Inc. has a 1 year low of $12.69 and a 1 year high of $29.73. The stock has a 50 day moving average price of $24.24 and a 200 day moving average price of $21.04.

Insider Activity at Warby Parker

In other news, Director Teresa Briggs sold 6,000 shares of Warby Parker stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $23.56, for a total transaction of $141,360.00. Following the sale, the director owned 44,879 shares in the company, valued at $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on 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 sale, the chief executive officer owned 28,347 shares in the company, valued at approximately $711,793.17. The trade was a 63.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,000 shares of company stock worth $2,607,280. Company insiders own 18.24% of the company's stock.

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.