Raymond James Financial Inc. Lowers Position in Warby Parker Inc. $WRBY

Key Points

• Raymond James Financial Inc. decreased its holdings in Warby Parker Inc. by 3.2%, retaining approximately 330,811 shares valued at $6,031,000.
• Several brokerages have updated their price targets for Warby Parker, with UBS Group setting a target of $23.00 and BTIG Research increasing its target to $28.00.
• Insider transactions indicate significant sales, with CEO Neil Blumenthal selling 50,000 shares, and a total of 106,000 shares sold by insiders over the past three months.

Raymond James Financial Inc. trimmed its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 3.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,811 shares of the company's stock after selling 10,883 shares during the period. Raymond James Financial Inc. owned 0.32% of Warby Parker worth $6,031,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WRBY. Price T Rowe Associates Inc. MD increased its stake in shares of Warby Parker by 21.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 53,421 shares of the company's stock valued at $1,294,000 after purchasing an additional 9,367 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Warby Parker by 7.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 48,564 shares of the company's stock valued at $1,176,000 after buying an additional 3,571 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Warby Parker by 7.5% during the 4th quarter. Northern Trust Corp now owns 811,038 shares of the company's stock worth $19,635,000 after purchasing an additional 56,674 shares during the period. Comerica Bank increased its holdings in Warby Parker by 153.1% in 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 in the last quarter. Finally, Ameriprise Financial Inc. acquired a new position in Warby Parker during the 4th quarter valued at approximately $295,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Zacks Research raised shares of Warby Parker from a "strong sell" rating to a "hold" rating in a research report on Thursday. Loop Capital reiterated a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Evercore ISI reaffirmed a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. Finally, Piper Sandler restated an "overweight" rating and set a $25.00 price target (up previously from $20.00) on shares of Warby Parker in a report on Thursday, May 29th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Warby Parker has a consensus rating of "Moderate Buy" and a consensus price target of $24.06.

Warby Parker Price Performance

Shares of WRBY stock traded up $0.94 during trading hours on Monday, reaching $26.96. 1,206,965 shares of the stock were exchanged, compared to its average volume of 2,170,754. The business's fifty day moving average is $24.40 and its two-hundred day moving average is $20.98. Warby Parker Inc. has a 12-month low of $13.22 and a 12-month high of $29.73. The firm has a market capitalization of $2.84 billion, a P/E ratio of -384.66 and a beta of 2.10.

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.