Warby Parker Inc. $WRBY Holdings Boosted by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its stake in Warby Parker by 232.7%, owning approximately 0.52% of the company valued at nearly $9.8 million as of the latest SEC filing.
• Insider selling has been notable, with CEO Neil Harris Blumenthal selling 50,000 shares and Director Teresa Briggs selling 6,000 shares, resulting in substantial decreases in their ownership stakes.
• Warby Parker's stock is experiencing positive analyst sentiment, with eleven analysts rating it as a buy and the stock currently has a market cap of $2.75 billion.

Trexquant Investment LP raised its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 232.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 538,909 shares of the company's stock after buying an additional 376,936 shares during the quarter. Trexquant Investment LP owned approximately 0.52% of Warby Parker worth $9,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mariner LLC grew its holdings in shares of Warby Parker by 6.5% during the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock worth $261,000 after buying an additional 660 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,050 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Warby Parker by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,495,189 shares of the company's stock worth $36,199,000 after buying an additional 74,996 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Warby Parker by 21.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,421 shares of the company's stock worth $1,294,000 after purchasing an additional 9,367 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Warby Parker by 7.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 48,564 shares of the company's stock worth $1,176,000 after purchasing an additional 3,571 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Warby Parker Stock Performance

Shares of NYSE:WRBY traded down $0.29 during midday trading on Wednesday, hitting $25.26. 585,128 shares of the company's stock traded hands, compared to its average volume of 2,184,645. The company has a market cap of $2.66 billion, a PE ratio of -360.86 and a beta of 2.10. The firm's fifty day moving average price is $24.17 and its two-hundred day moving average price is $21.01. Warby Parker Inc. has a twelve month low of $12.69 and a twelve month high of $29.73.

Insiders Place Their Bets

In other news, Director Teresa Briggs sold 6,000 shares of the stock in a transaction dated 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 owned 44,879 shares of the company's stock, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 28,347 shares in the company, valued at $711,793.17. The trade was a 63.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,000 shares of company stock worth $2,607,280 in the last quarter. 18.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WRBY shares. The Goldman Sachs Group increased their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen raised Warby Parker from a "hold" rating to a "buy" rating in a research report on Saturday. BTIG Research reissued a "buy" rating and set a $28.00 price target (up previously from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. TD Securities raised their price target on Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Stifel Nicolaus raised their price target on Warby Parker from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Warby Parker currently has a consensus rating of "Moderate Buy" and an average target price of $24.06.

About Warby Parker

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.