OMERS ADMINISTRATION Corp Raises Holdings in 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 boosted its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 266.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,000 shares of the company's stock after purchasing an additional 59,600 shares during the quarter. OMERS ADMINISTRATION Corp owned about 0.08% of Warby Parker worth $1,495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WRBY. New York State Teachers Retirement System bought a new stake in Warby Parker during the 1st quarter valued at approximately $27,000. NewEdge Advisors LLC raised its stake in Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock valued at $29,000 after purchasing an additional 1,050 shares during the period. Comerica Bank raised its stake in Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after purchasing an additional 1,386 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Warby Parker during the 1st quarter valued at approximately $58,000. Finally, CWM LLC raised its stake in Warby Parker by 231.9% during the 1st quarter. CWM LLC now owns 5,855 shares of the company's stock valued at $107,000 after purchasing an additional 4,091 shares during the period. Institutional investors own 93.24% of the company's stock.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction on 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 $1,057,349.24. The trade was a 11.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 28,347 shares of the company's stock, 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 90 days, insiders have sold 106,000 shares of company stock valued at $2,607,280. 18.24% of the stock is owned by company insiders.

Warby Parker Trading Up 2.6%

Shares of NYSE WRBY traded up $0.67 during trading hours on Friday, hitting $26.02. 1,126,735 shares of the company traded hands, compared to its average volume of 1,486,249. The company's 50 day moving average price is $24.40 and its 200 day moving average price is $21.01. Warby Parker Inc. has a 12 month low of $12.69 and a 12 month high of $29.73. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -371.59 and a beta of 2.10.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Zacks Research raised Warby Parker from a "strong sell" rating to a "hold" rating in a research note on Thursday. Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. UBS Group reaffirmed a "neutral" rating and issued a $23.00 price objective (up previously from $20.00) on shares of Warby Parker in a research note on Friday, August 8th. Stifel Nicolaus lifted their price objective on Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Citizens Jmp downgraded 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.06.

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.