Warby Parker Inc. (NYSE:WRBY) Holdings Lowered by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC reduced its stake in Warby Parker by 61.5% in Q1 2023, leaving it with approximately 0.18% ownership valued at $3.4 million after selling nearly 300,000 shares.
• Recent insider transactions include sales by Director Youngme E. Moon and CEO Neil Harris Blumenthal, reducing their holdings by over 38% and 63% respectively.
• Analysts have given Warby Parker a consensus rating of "Moderate Buy" with a target price averaging $23.31, indicating optimism despite recent downgrades from some analysts.

Natixis Advisors LLC lowered its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 61.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,423 shares of the company's stock after selling 298,789 shares during the quarter. Natixis Advisors LLC owned 0.18% of Warby Parker worth $3,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in Warby Parker in the first quarter valued at $27,000. NewEdge Advisors LLC increased its position in shares of Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,050 shares during the last quarter. Comerica Bank increased its position in shares of Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after purchasing an additional 1,386 shares during the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Warby Parker in the 4th quarter valued at about $69,000. Finally, CWM LLC lifted its position in shares of Warby Parker by 231.9% during the first quarter. CWM LLC now owns 5,855 shares of the company's stock worth $107,000 after purchasing an additional 4,091 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Price Performance

Shares of WRBY traded down $0.11 during midday trading on Friday, reaching $23.37. The stock had a trading volume of 2,626,000 shares, compared to its average volume of 2,264,311. The company has a market capitalization of $2.44 billion, a P/E ratio of -194.75 and a beta of 2.09. The firm's 50 day moving average price is $22.59 and its 200-day moving average price is $21.10. Warby Parker Inc. has a 52 week low of $12.46 and a 52 week high of $29.73.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Evercore ISI reissued a "positive" rating on shares of Warby Parker in a report on Thursday. Loop Capital reiterated a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. JMP Securities reissued a "market perform" rating on shares of Warby Parker in a research report on Thursday, July 10th. 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. Finally, The Goldman Sachs Group upped their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.06.

Insider Transactions at Warby Parker

In other news, Director Youngme E. Moon sold 33,073 shares of Warby Parker stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total value of $658,152.70. Following the transaction, the director owned 53,869 shares of the company's stock, valued at $1,071,993.10. The trade was a 38.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 49,600 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $24.21, for a total transaction of $1,200,816.00. Following the completion of the sale, the chief executive officer owned 28,347 shares in the company, valued at $686,280.87. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,073 shares of company stock worth $1,868,573. 18.24% of the stock is owned by corporate insiders.

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.