Warby Parker Inc. $WRBY Shares Acquired by Jump Financial LLC

Key Points

• Jump Financial LLC has significantly increased its stake in Warby Parker Inc. by 96.9%, now owning approximately 0.37% of the company, worth about $7.05 million.
• Institutional investors collectively hold 93.24% of Warby Parker's stock, indicating strong institutional interest in the company.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Warby Parker, with an average price target of $24.06.

Jump Financial LLC lifted its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 96.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 386,783 shares of the company's stock after purchasing an additional 190,383 shares during the quarter. Jump Financial LLC owned about 0.37% of Warby Parker worth $7,051,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Warby Parker during the first quarter valued at approximately $2,029,000. New York State Teachers Retirement System purchased a new position in Warby Parker during the first quarter valued at approximately $27,000. Jennison Associates LLC raised its position in Warby Parker by 23.7% during the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after acquiring an additional 416,797 shares in the last quarter. Northern Trust Corp raised its position in Warby Parker by 7.5% during the fourth quarter. Northern Trust Corp now owns 811,038 shares of the company's stock valued at $19,635,000 after acquiring an additional 56,674 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Warby Parker during the first quarter valued at approximately $602,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Cowen reiterated a "buy" rating on shares of Warby Parker in a research report on Friday, August 8th. Citizens Jmp cut Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded Warby Parker from a "hold" rating to a "buy" rating in a research report on Friday, August 22nd. Stifel Nicolaus boosted their price objective on Warby Parker from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $28.00 price objective on shares of Warby Parker in a research report on Thursday, August 7th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.06.

Warby Parker Stock Performance

Shares of WRBY traded down $0.27 during trading hours on Thursday, hitting $26.27. 1,277,569 shares of the stock were exchanged, compared to its average volume of 2,207,407. The stock's 50-day moving average price is $23.82 and its two-hundred day moving average price is $21.05. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -375.16 and a beta of 2.09. Warby Parker Inc. has a 12-month low of $12.69 and a 12-month high of $29.73.

Insiders Place Their Bets

In other Warby Parker news, Director Teresa Briggs sold 6,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was 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. The trade was a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total value 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. This trade represents a 63.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,000 shares of company stock worth $2,607,280 in the last three months. 18.24% of the stock is currently 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.