AIA Group Ltd lessened its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 37.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,954 shares of the company's stock after selling 65,212 shares during the period. AIA Group Ltd owned 0.10% of Warby Parker worth $1,950,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in WRBY. Nuveen LLC purchased a new stake in Warby Parker during the 1st quarter worth about $30,549,000. Aigen Investment Management LP purchased a new stake in Warby Parker during the 1st quarter worth about $216,000. King Luther Capital Management Corp purchased a new stake in Warby Parker during the 1st quarter worth about $4,314,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Warby Parker by 62.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 279,403 shares of the company's stock worth $5,094,000 after purchasing an additional 106,992 shares in the last quarter. Finally, Accuvest Global Advisors purchased a new stake in Warby Parker during the 1st quarter worth about $244,000. Hedge funds and other institutional investors own 93.24% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on WRBY shares. Citigroup reissued a "neutral" rating and set a $22.00 price objective (up previously from $17.00) on shares of Warby Parker in a report on Wednesday, May 21st. Robert W. Baird set a $30.00 price objective on Warby Parker and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Evercore ISI restated a "positive" rating on shares of Warby Parker in a research note on Thursday, August 7th. Loop Capital restated a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Finally, BTIG Research restated a "buy" rating and issued a $28.00 target price (up from $24.00) on shares of Warby Parker in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $24.06.
View Our Latest Analysis on Warby Parker
Warby Parker Stock Up 9.9%
NYSE WRBY traded up $2.42 during trading hours on Wednesday, hitting $26.83. 2,515,928 shares of the company were exchanged, compared to its average volume of 1,813,759. The stock has a 50-day moving average price of $22.87 and a 200 day moving average price of $21.06. Warby Parker Inc. has a 52 week low of $12.46 and a 52 week high of $29.73. The stock has a market cap of $2.82 billion, a PE ratio of -383.23 and a beta of 2.09.
Insider Activity
In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the company's 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 completion of the sale, the chief executive officer owned 28,347 shares in the company, valued at $711,793.17. This represents a 63.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa Briggs sold 6,000 shares of the company'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 sale, the director owned 44,879 shares of the company's stock, valued at approximately $1,057,349.24. This represents a 11.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,073 shares of company stock valued at $3,265,433. 18.24% of the stock is currently owned by insiders.
Warby Parker Profile
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Free Report)
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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