Warby Parker Inc. $WRBY Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in Warby Parker by 14.6%, holding approximately 0.36% of the company after selling over 64,000 shares.
• The company's stock increased by 1.5% recently, with a current market cap of $2.87 billion and a price-to-earnings ratio of -389.09.
• Recent analyst ratings include an "outperform" rating from Robert W. Baird with a target price of $30.00, while the average target price stands at $24.06.

Deutsche Bank AG reduced its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 376,974 shares of the company's stock after selling 64,562 shares during the period. Deutsche Bank AG owned about 0.36% of Warby Parker worth $6,872,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WRBY. New York State Teachers Retirement System acquired a new stake in Warby Parker in the first quarter valued at approximately $27,000. NewEdge Advisors LLC boosted its stake in shares of Warby Parker by 700.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,050 shares during the last quarter. Comerica Bank boosted its stake in shares of Warby Parker by 153.1% in the fourth quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after acquiring an additional 1,386 shares during the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Warby Parker in the fourth quarter worth approximately $69,000. Finally, CWM LLC boosted its stake in shares of Warby Parker by 231.9% in the first quarter. CWM LLC now owns 5,855 shares of the company's stock worth $107,000 after acquiring an additional 4,091 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Warby Parker news, Director Teresa Briggs sold 6,000 shares of Warby Parker 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 in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $25.11, for a total value 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 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. Company insiders own 18.24% of the company's stock.

Warby Parker Stock Down 1.9%

NYSE:WRBY traded down $0.5040 on Thursday, reaching $26.0560. The company's stock had a trading volume of 1,255,789 shares, compared to its average volume of 1,877,134. Warby Parker Inc. has a 12-month low of $12.69 and a 12-month high of $29.73. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -372.18 and a beta of 2.09. The stock has a 50 day moving average price of $23.43 and a 200 day moving average price of $21.05.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WRBY. Robert W. Baird set a $30.00 price target on Warby Parker and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Evercore ISI reaffirmed a "positive" rating on shares of Warby Parker in a research note on Thursday, August 7th. The Goldman Sachs Group lifted their price target on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. UBS Group reaffirmed a "neutral" rating and issued a $23.00 price target (up from $20.00) on shares of Warby Parker in a research note on Friday, August 8th. Finally, Cowen reiterated a "buy" rating on shares of Warby Parker in a research report on Friday, August 8th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.06.

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.