Petrus Trust Company LTA Takes Position in Warby Parker Inc. $WRBY

Key Points

• Petrus Trust Company LTA invested approximately $706,000 in Warby Parker Inc. by acquiring 38,722 shares during the first quarter.
• Major analysts have upgraded their ratings for Warby Parker, with BTIG Research raising its price target to $28.00, suggesting a generally positive outlook for the stock.
• Insider transactions include the sale of 56,000 shares by CEO Neil Harris Blumenthal and Director Teresa Briggs, indicating significant insider activity.

Petrus Trust Company LTA bought a new position in Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 38,722 shares of the company's stock, valued at approximately $706,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of WRBY. New York State Teachers Retirement System bought a new stake in Warby Parker during the first quarter worth approximately $27,000. Comerica Bank boosted its stake in 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 buying an additional 1,386 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Warby Parker during the first quarter valued at $58,000. CWM LLC raised its stake in shares of Warby Parker by 231.9% in the first quarter. CWM LLC now owns 5,855 shares of the company's stock valued at $107,000 after acquiring an additional 4,091 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Warby Parker by 4,937.0% in the 1st quarter. GAMMA Investing LLC now owns 6,800 shares of the company's stock worth $124,000 after acquiring an additional 6,665 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Up 2.0%

Shares of NYSE WRBY traded up $0.55 during mid-day trading on Thursday, reaching $27.56. 1,315,572 shares of the company were exchanged, compared to its average volume of 2,166,439. Warby Parker Inc. has a 1 year low of $13.63 and a 1 year high of $29.73. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -393.66 and a beta of 2.10. The firm has a 50-day moving average of $24.70 and a 200 day moving average of $21.08.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Joel E. Cutler sold 35,000 shares of Warby Parker stock in a transaction on Monday, September 8th. The shares were sold at an average price of $26.75, for a total value of $936,250.00. Following the transaction, the director directly owned 19,932 shares of the company's stock, valued at approximately $533,181. The trade was a 63.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer owned 28,347 shares in the company, valued at approximately $711,793.17. This trade represents a 63.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 141,000 shares of company stock worth $3,543,530 over the last three months. Corporate insiders own 18.24% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on WRBY. Evercore ISI restated a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. BTIG Research reaffirmed a "buy" rating and issued a $28.00 price objective (up previously from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Zacks Research raised shares of Warby Parker from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Robert W. Baird set a $30.00 price target on shares of Warby Parker and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Warby Parker presently has an average rating of "Moderate Buy" and a consensus 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.