Strs Ohio Takes Position in Warby Parker Inc. $WRBY

Key Points

• Strs Ohio has acquired a new stake in Warby Parker Inc. (NYSE:WRBY), purchasing 16,100 shares valued at approximately $294,000 in the first quarter.
• Insider transactions showed that Director Joel E. Cutler and CEO Neil Harris Blumenthal sold significant portions of their shares, with Cutler decreasing his position by 63.72% and Blumenthal by 63.82%.
• Warby Parker stock has been rated positively by analysts, with several firms issuing "buy" ratings and setting a price objective range of $28 to $30.

Strs Ohio acquired a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,100 shares of the company's stock, valued at approximately $294,000.

Other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in shares of Warby Parker in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Warby Parker in the first quarter valued at approximately $58,000. CWM LLC lifted its position 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 buying an additional 4,091 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Warby Parker by 4,937.0% in the first quarter. GAMMA Investing LLC now owns 6,800 shares of the company's stock valued at $124,000 after buying an additional 6,665 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Warby Parker during the 1st quarter worth approximately $157,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Stock Performance

Warby Parker stock opened at $28.27 on Wednesday. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $29.73. The stock has a market capitalization of $2.97 billion, a P/E ratio of -403.81 and a beta of 2.10. The stock has a fifty day moving average of $25.65 and a 200-day moving average of $21.34.

Insider Transactions at Warby Parker

In other news, Director Joel E. Cutler sold 35,000 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $26.75, for a total transaction of $936,250.00. Following the completion of the transaction, the director owned 19,932 shares of the company's stock, valued at approximately $533,181. The trade was a 63.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 directly owned 28,347 shares of the company's stock, valued at $711,793.17. This trade represents a 63.82% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,000 shares of company stock valued at $4,919,941. Corporate insiders own 18.24% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JMP Securities reissued a "market perform" rating on shares of Warby Parker in a report on Thursday, July 10th. Robert W. Baird set a $30.00 price objective on Warby Parker and gave the company an "outperform" rating in a report on Wednesday, July 30th. BTIG Research reaffirmed a "buy" rating and issued a $28.00 price objective (up from $24.00) on shares of Warby Parker in a report on Thursday, August 7th. Cowen reaffirmed a "buy" rating on shares of Warby Parker in a report on Friday, August 8th. Finally, Wall Street Zen raised Warby Parker from a "hold" rating to a "buy" rating in a report on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.

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