Pallas Capital Advisors LLC Takes $229,000 Position in Warby Parker Inc. $WRBY

Key Points

• Pallas Capital Advisors LLC acquired a new stake in Warby Parker Inc. valued at approximately $229,000, purchasing 10,460 shares of the company's stock during the 2nd quarter.
• Institutional investors and hedge funds now own a significant 93.24% of Warby Parker's stock, showcasing strong institutional interest in the company.
• Warby Parker's stock recently traded at $28.59, with analysts giving it an average rating of "Moderate Buy" and a price target of $24.06.

Pallas Capital Advisors LLC acquired a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,460 shares of the company's stock, valued at approximately $229,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Anderson Financial Strategies LLC lifted its stake in shares of Warby Parker by 39.0% during the 1st quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company's stock worth $72,000 after purchasing an additional 1,109 shares during the period. New York State Teachers Retirement System acquired a new position in Warby Parker in the first quarter valued at $27,000. Charles Schwab Investment Management Inc. increased its stake in Warby Parker by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 744,589 shares of the company's stock valued at $13,574,000 after purchasing an additional 2,039 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Warby Parker by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company's stock valued at $961,000 after purchasing an additional 2,297 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC increased its stake in Warby Parker by 2.7% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 98,343 shares of the company's stock valued at $1,793,000 after purchasing an additional 2,611 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

Warby Parker Trading Up 0.4%

Warby Parker stock opened at $28.59 on Tuesday. The stock has a market cap of $3.01 billion, a P/E ratio of -408.37 and a beta of 2.10. The stock has a 50 day moving average of $25.54 and a 200-day moving average of $21.29. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $29.73.

Insider Transactions at Warby Parker

In other news, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $23.56, for a total value of $141,360.00. Following the completion of the sale, the director owned 44,879 shares of the company's stock, valued at approximately $1,057,349.24. The trade was a 11.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 8,416 shares of Warby Parker stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.52, for a total value of $231,608.32. Following the completion of the transaction, the chief executive officer owned 32,733 shares of the company's stock, valued at $900,812.16. This trade represents a 20.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,000 shares of company stock valued at $4,919,941. Insiders own 18.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WRBY. BTIG Research restated a "buy" rating and issued a $28.00 price target (up previously from $24.00) on shares of Warby Parker in a report on Thursday, August 7th. Citizens Jmp cut shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. Evercore ISI reiterated a "positive" rating on shares of Warby Parker in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Warby Parker from a "hold" rating to a "buy" rating in a report on Monday, September 15th. Finally, Robert W. Baird set a $30.00 price objective on Warby Parker and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Warby Parker has an average rating of "Moderate Buy" and an average price target of $24.06.

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.

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