Raymond James Financial Inc. Sells 10,883 Shares of 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 shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 330,811 shares of the company's stock after selling 10,883 shares during the quarter. Raymond James Financial Inc. owned about 0.32% of Warby Parker worth $6,031,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WRBY. Price T Rowe Associates Inc. MD lifted its holdings in shares of Warby Parker by 21.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,421 shares of the company's stock worth $1,294,000 after buying an additional 9,367 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Warby Parker by 7.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 48,564 shares of the company's stock worth $1,176,000 after buying an additional 3,571 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Warby Parker by 7.5% during the fourth quarter. Northern Trust Corp now owns 811,038 shares of the company's stock worth $19,635,000 after buying an additional 56,674 shares in the last quarter. Comerica Bank lifted its holdings in shares of 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 in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Warby Parker during the fourth quarter worth $295,000. Institutional investors and hedge funds own 93.24% of the company's stock.

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 stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the sale, the director directly owned 44,879 shares in the company, valued at approximately $1,057,349.24. The trade was a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction dated 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 sale, 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. In the last quarter, insiders sold 106,000 shares of company stock worth $2,607,280. Company insiders own 18.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WRBY shares. Cowen reissued a "buy" rating on shares of Warby Parker in a report on Friday, August 8th. Zacks Research raised Warby Parker from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. JMP Securities reaffirmed a "market perform" rating on shares of Warby Parker in a research note on Thursday, July 10th. Finally, Citizens Jmp downgraded Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.06.

Warby Parker Trading Down 1.0%

Warby Parker stock traded down $0.27 during midday trading on Tuesday, reaching $26.48. The company's stock had a trading volume of 275,499 shares, compared to its average volume of 2,167,255. Warby Parker Inc. has a 52 week low of $13.48 and a 52 week high of $29.73. The business has a 50-day moving average price of $24.50 and a 200-day moving average price of $21.00. The stock has a market cap of $2.79 billion, a PE ratio of -378.57 and a beta of 2.10.

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.