Warby Parker Inc. $WRBY Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Warby Parker Inc. by 1.2%, holding 9,699,483 shares valued at approximately $176.82 million as of its latest SEC filing.
• Warby Parker has seen a surge of interest from institutional investors, with 93.24% of the stock owned by such entities and several new stakes purchased during the first quarter.
• Analysts have mixed ratings on Warby Parker, with a consensus rating of "Moderate Buy" and an average target price of $24.06, reflecting various price objectives from different firms.

Vanguard Group Inc. decreased its stake in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,699,483 shares of the company's stock after selling 118,592 shares during the period. Vanguard Group Inc. owned about 9.28% of Warby Parker worth $176,822,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WRBY. LPL Financial LLC bought a new position in shares of Warby Parker during the fourth quarter worth about $476,000. Wells Fargo & Company MN lifted its position in shares of Warby Parker by 103.4% during the fourth quarter. Wells Fargo & Company MN now owns 63,575 shares of the company's stock worth $1,539,000 after purchasing an additional 32,315 shares during the last quarter. Invesco Ltd. lifted its position in shares of Warby Parker by 69.0% during the fourth quarter. Invesco Ltd. now owns 152,934 shares of the company's stock worth $3,703,000 after purchasing an additional 62,462 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Warby Parker during the fourth quarter worth about $8,272,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Warby Parker by 10.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company's stock worth $224,000 after purchasing an additional 840 shares during the last quarter. Institutional investors own 93.24% of the company's stock.

Insider Activity at Warby Parker

In other Warby Parker news, Director Teresa Briggs sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $23.56, for a total value of $141,360.00. Following the sale, the director owned 44,879 shares in the company, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $1,255,500.00. Following the transaction, the chief executive officer owned 28,347 shares in the company, valued at $711,793.17. This represents a 63.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,000 shares of company stock worth $2,607,280 in the last 90 days. 18.24% of the stock is owned by company insiders.

Warby Parker Stock Performance

Shares of NYSE:WRBY traded down $0.8450 during trading hours on Monday, hitting $26.1750. The stock had a trading volume of 1,098,199 shares, compared to its average volume of 1,886,181. The stock's fifty day simple moving average is $23.62 and its 200 day simple moving average is $20.97. Warby Parker Inc. has a 1-year low of $12.69 and a 1-year high of $29.73. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -373.88 and a beta of 2.09.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WRBY shares. Stifel Nicolaus increased their price target on shares of Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. BTIG Research reiterated a "buy" rating and set a $28.00 price objective (up previously from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th. TD Securities increased their price objective on shares of Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Cowen reiterated a "buy" rating on shares of Warby Parker in a research note on Friday, August 8th. Finally, Piper Sandler reiterated an "overweight" rating and set a $25.00 price objective (up previously from $20.00) on shares of Warby Parker in a research note on Thursday, May 29th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $24.06.

Warby Parker 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.