Vanguard Group Inc. Sells 118,592 Shares of Warby Parker Inc. $WRBY

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. lowered its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,699,483 shares of the company's stock after selling 118,592 shares during the quarter. Vanguard Group Inc. owned 9.28% of Warby Parker worth $176,822,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Durable Capital Partners LP grew its stake in Warby Parker by 10.3% in the 4th quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company's stock valued at $218,322,000 after buying an additional 840,797 shares in the last quarter. Jennison Associates LLC grew its stake in Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after buying an additional 416,797 shares in the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Warby Parker by 12.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,809,294 shares of the company's stock valued at $43,803,000 after purchasing an additional 199,235 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Warby Parker by 5.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,721,215 shares of the company's stock valued at $31,378,000 after purchasing an additional 88,874 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Warby Parker by 5.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,495,189 shares of the company's stock valued at $36,199,000 after purchasing an additional 74,996 shares in the last quarter. Institutional investors own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WRBY. Telsey Advisory Group restated an "outperform" rating and set a $28.00 price target on shares of Warby Parker in a research report on Thursday, August 7th. The Goldman Sachs Group boosted their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Citigroup restated a "neutral" rating and set a $22.00 price target (up from $17.00) on shares of Warby Parker in a research report on Wednesday, May 21st. UBS Group restated a "neutral" rating and set a $23.00 price target (up from $20.00) on shares of Warby Parker in a research report on Friday, August 8th. Finally, Stifel Nicolaus boosted their price target on shares of Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, Warby Parker presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.06.

Insider Buying and Selling

In other news, 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 transaction, the director directly owned 44,879 shares of the company's stock, 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 available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total transaction of $1,255,500.00. Following the sale, the chief executive officer directly owned 28,347 shares in the company, valued at $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. Over the last ninety days, insiders have sold 106,000 shares of company stock worth $2,607,280. 18.24% of the stock is currently owned by corporate insiders.

Warby Parker Trading Up 3.6%

Shares of NYSE WRBY traded up $0.9480 during midday trading on Friday, reaching $27.0180. 1,098,401 shares of the stock were exchanged, compared to its average volume of 1,882,029. The company has a market capitalization of $2.84 billion, a P/E ratio of -385.92 and a beta of 2.09. Warby Parker Inc. has a 52-week low of $12.69 and a 52-week high of $29.73. The stock has a 50 day moving average price of $23.53 and a 200-day moving average price of $21.05.

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.