Quantbot Technologies LP Acquires 43,863 Shares of Warby Parker Inc. $WRBY

Key Points

• Quantbot Technologies LP increased its holdings in Warby Parker Inc. by 153.0%, acquiring an additional 43,863 shares for a total of 72,538 shares valued at approximately $1.32 million.
• Multiple institutional investors have enhanced their positions, leading to a total of 93.24% of Warby Parker's stock being owned by institutional investors as of the most recent filings.
• Wall Street analysts have generally rated Warby Parker's stock positively, with an average target price of $24.06 and reports indicating it is a potential candidate for a short-squeeze.

Quantbot Technologies LP boosted its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 153.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,538 shares of the company's stock after acquiring an additional 43,863 shares during the period. Quantbot Technologies LP owned 0.07% of Warby Parker worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Durable Capital Partners LP raised its stake in Warby Parker by 10.3% in the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock valued at $218,322,000 after acquiring an additional 840,797 shares during the period. American Century Companies Inc. increased its position in Warby Parker by 14.6% during the 1st 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 period. Jennison Associates LLC increased its position in Warby Parker by 23.7% during the 1st 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 period. D. E. Shaw & Co. Inc. increased its position in Warby Parker by 12.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,809,294 shares of the company's stock worth $43,803,000 after buying an additional 199,235 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Warby Parker by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,721,215 shares of the company's stock worth $31,378,000 after buying an additional 88,874 shares during the period. Institutional investors own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stifel Nicolaus increased their price objective on Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. JMP Securities reiterated a "market perform" rating on shares of Warby Parker in a research report on Thursday, July 10th. Loop Capital reiterated a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Evercore ISI reiterated a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. Finally, Cowen restated a "buy" rating on shares of Warby Parker in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $24.06.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $27.0180 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 capitalization of $2.84 billion, a P/E ratio of -385.92 and a beta of 2.09. The stock's fifty day moving average is $23.53 and its 200 day moving average is $21.05.

Insider Activity

In related news, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $23.56, for a total value of $141,360.00. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 28,347 shares in the company, valued at $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 106,000 shares of company stock worth $2,607,280 over the last ninety days. 18.24% of the stock is currently owned by insiders.

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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