Vaughan Nelson Investment Management L.P. Buys 1,137,970 Shares of Warby Parker Inc. $WRBY

Key Points

• Vaughan Nelson Investment Management L.P. increased its stake in Warby Parker Inc. by 105.5% in the 2nd quarter, acquiring an additional 1,137,970 shares, bringing its total ownership to 2,216,320 shares valued at approximately $48.6 million.
• Institutional investors hold 93.24% of Warby Parker's stock, highlighting significant interest from large investment firms.
• Analysts have mixed ratings on Warby Parker's stock, with a consensus average rating of "Hold" and a price target of $24.06, while eleven analysts rated it as a Buy.

Vaughan Nelson Investment Management L.P. increased its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 105.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,216,320 shares of the company's stock after acquiring an additional 1,137,970 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 2.12% of Warby Parker worth $48,604,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Warby Parker in the 1st quarter valued at $2,029,000. New York State Teachers Retirement System bought a new stake in shares of Warby Parker in the 1st quarter valued at $27,000. Kings Path Partners LLC bought a new stake in Warby Parker during the 2nd quarter valued at $300,000. Jennison Associates LLC increased its stake in Warby Parker by 23.7% during the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after purchasing an additional 416,797 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Warby Parker during the 1st quarter valued at $656,000. Institutional investors own 93.24% of the company's stock.

Warby Parker Price Performance

WRBY opened at $26.19 on Friday. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -374.02 and a beta of 2.10. The firm's fifty day moving average price is $26.17 and its two-hundred day moving average price is $21.73. Warby Parker Inc. has a 1 year low of $13.63 and a 1 year high of $29.73.

Analyst Ratings Changes

A number of analysts have commented on WRBY shares. Wall Street Zen upgraded shares of Warby Parker from a "hold" rating to a "buy" rating in a research note on Monday, September 15th. Robert W. Baird set a $30.00 price target on shares of Warby Parker and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Citizens Jmp lowered shares of Warby Parker from an "outperform" rating to a "market perform" rating in a research note on Thursday, July 10th. JMP Securities restated a "market perform" rating on shares of Warby Parker in a research note on Thursday, July 10th. Finally, Zacks Research upgraded shares of Warby Parker from a "strong sell" rating to a "hold" rating in a research note on Thursday, September 4th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Warby Parker has an average rating of "Hold" and a consensus price target of $24.06.

Insiders Place Their Bets

In other Warby Parker news, Director Joel E. Cutler sold 35,000 shares of Warby Parker stock in a transaction on Monday, September 8th. The shares were sold at an average price of $26.75, for a total transaction of $936,250.00. Following the transaction, the director directly owned 19,932 shares of the company's stock, valued at $533,181. The trade was a 63.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the completion of the transaction, the director directly owned 44,879 shares in the company, valued at $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,000 shares of company stock valued at $4,919,941 in the last three months. 18.24% of the stock is currently owned by insiders.

Warby Parker Company 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.

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