UNC Management Company Inc. Takes $233,000 Position in Warby Parker Inc. $WRBY

Key Points

• UNC Management Company Inc. purchased 12,798 shares of Warby Parker Inc., valued at approximately $233,000, making it the company's 3rd biggest position.
• The stock has recently seen increased interest from hedge funds, with PDT Partners LLC boosting its holdings by 256.2% during the first quarter.
• Analysts have set a mixed outlook for Warby Parker, with price targets ranging from $20.00 to $28.00 and a consensus rating of "Moderate Buy."

UNC Management Company Inc. acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,798 shares of the company's stock, valued at approximately $233,000. Warby Parker accounts for about 0.0% of UNC Management Company Inc.'s portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Warby Parker in the first quarter worth about $30,549,000. Durable Capital Partners LP lifted its position in shares of Warby Parker by 13.2% in the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company's stock worth $186,172,000 after purchasing an additional 1,194,558 shares in the last quarter. Broad Bay Capital Management LP bought a new stake in shares of Warby Parker in the first quarter worth $14,357,000. Victory Capital Management Inc. raised its position in Warby Parker by 6,931.8% during the first quarter. Victory Capital Management Inc. now owns 770,054 shares of the company's stock worth $14,038,000 after acquiring an additional 759,103 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Warby Parker by 23.7% during the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock worth $39,635,000 after acquiring an additional 416,797 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $23.56, for a total value 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 trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a legal 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 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 completion of the sale, the chief executive officer directly owned 28,347 shares of the company's stock, valued at $711,793.17. The trade was a 63.82% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,000 shares of company stock valued at $2,607,280. Insiders own 18.24% of the company's stock.

Warby Parker Stock Up 2.6%

Shares of WRBY stock traded up $0.67 during trading on Friday, hitting $26.02. The company had a trading volume of 1,126,735 shares, compared to its average volume of 1,486,249. The stock's 50-day moving average is $24.40 and its two-hundred day moving average is $21.04. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -371.59 and a beta of 2.10. Warby Parker Inc. has a 52 week low of $12.69 and a 52 week high of $29.73.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citizens Jmp downgraded shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Warby Parker from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Evercore ISI reiterated a "positive" rating on shares of Warby Parker in a report on Thursday, August 7th. UBS Group restated a "neutral" rating and set a $23.00 price target (up previously from $20.00) on shares of Warby Parker in a report on Friday, August 8th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $28.00 price objective on shares of Warby Parker in a research note on Thursday, August 7th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.