Petrus Trust Company LTA Makes New $706,000 Investment 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 acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,722 shares of the company's stock, valued at approximately $706,000.

Other large investors have also recently added to or reduced their stakes in the company. Comerica Bank grew its stake in shares of Warby Parker by 153.1% during the fourth 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 last quarter. New York State Teachers Retirement System bought a new stake in shares of Warby Parker during the first quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. grew its stake in shares of Warby Parker by 0.3% during 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. grew its stake in shares of Warby Parker by 4.6% during 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 grew its stake in shares of Warby Parker by 2.7% during 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. 93.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on WRBY. BTIG Research reissued a "buy" rating and set a $28.00 price target (up from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th. Loop Capital reissued a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Stifel Nicolaus increased their price target on shares of Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, August 8th. The Goldman Sachs Group increased their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $28.00 price objective on shares of Warby Parker in a research note on Thursday, August 7th. Eleven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, Warby Parker currently has an average rating of "Moderate Buy" and an average target price of $24.06.

Insider Buying and Selling

In other news, Director Teresa Briggs sold 6,000 shares of Warby Parker stock in a transaction 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 transaction, the director directly owned 44,879 shares of the company's stock, valued at $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total transaction of $1,255,500.00. Following the transaction, the chief executive officer directly owned 28,347 shares in the company, valued at approximately $711,793.17. This represents a 63.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,000 shares of company stock worth $2,607,280. Insiders own 18.24% of the company's stock.

Warby Parker Stock Performance

Shares of WRBY stock opened at $26.02 on Friday. Warby Parker Inc. has a 52-week low of $12.69 and a 52-week high of $29.73. The stock has a market cap of $2.74 billion, a PE ratio of -371.59 and a beta of 2.10. The firm's 50 day moving average price is $24.40 and its two-hundred day moving average price is $21.04.

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.

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