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. purchased a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,798 shares of the company's stock, valued at approximately $233,000. Warby Parker comprises approximately 0.0% of UNC Management Company Inc.'s investment portfolio, making the stock its 3rd largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PDT Partners LLC lifted its holdings in shares of Warby Parker by 256.2% in the 1st quarter. PDT Partners LLC now owns 154,036 shares of the company's stock worth $2,808,000 after acquiring an additional 110,789 shares during the last quarter. Durable Capital Partners LP boosted its holdings in Warby Parker by 13.2% in the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company's stock valued at $186,172,000 after purchasing an additional 1,194,558 shares in the last quarter. Maverick Capital Ltd. purchased a new position in shares of Warby Parker in the 1st quarter valued at $5,036,000. Nomura Holdings Inc. acquired a new stake in shares of Warby Parker during the first quarter worth about $1,011,000. Finally, Panagora Asset Management Inc. raised its position in Warby Parker by 9.2% in the 1st quarter. Panagora Asset Management Inc. now owns 182,724 shares of the company's stock valued at $3,331,000 after purchasing an additional 15,319 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WRBY shares. JMP Securities reaffirmed a "market perform" rating on shares of Warby Parker in a report on Thursday, July 10th. Evercore ISI reiterated a "positive" rating 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. BTIG Research reissued a "buy" rating and set a $28.00 price target (up previously from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th. Finally, Wall Street Zen cut Warby Parker from a "buy" rating to a "hold" rating in a report on Sunday. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, Warby Parker presently has an average rating of "Moderate Buy" and a consensus target price of $24.06.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 28,347 shares of the company's stock, valued at approximately $711,793.17. This trade represents a 63.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were 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 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. Over the last quarter, insiders have sold 106,000 shares of company stock worth $2,607,280. Insiders own 18.24% of the company's stock.

Warby Parker Stock Up 2.6%

Shares of NYSE:WRBY traded up $0.67 during trading on Friday, reaching $26.02. The stock had a trading volume of 1,126,735 shares, compared to its average volume of 1,486,249. The stock has a market cap of $2.74 billion, a P/E ratio of -371.59 and a beta of 2.10. Warby Parker Inc. has a fifty-two week low of $12.69 and a fifty-two week high of $29.73. The business has a fifty day moving average price of $24.40 and a 200-day moving average price of $21.01.

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.