Warby Parker Inc. $WRBY Stock Holdings Raised by Bank of America Corp DE

Key Points

• Bank of America increased its Warby Parker stake by 30.9% in the first quarter, adding 325,250 shares to own 1.38 million shares worth approximately $29 million. Institutional investors collectively hold 93.24% of the company.
• Warby Parker insiders sold 341,207 shares worth about $10.1 million over the past 90 days, including sales by directors Youngme E. Moon and Teresa Briggs. Company insiders retain a 16.8% ownership stake.
• WRBY opened at $25.97, with analysts maintaining a generally positive outlook: seven rate it a Buy and five a Hold, producing a “Moderate Buy” consensus and an average price target of $30.18.

Bank of America Corp DE grew its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 30.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,377,646 shares of the company's stock after purchasing an additional 325,250 shares during the quarter. Bank of America Corp DE owned approximately 1.29% of Warby Parker worth $29,027,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WRBY. First Horizon Corp grew its position in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company's stock worth $26,000 after acquiring an additional 595 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Warby Parker by 105.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company's stock valued at $28,000 after acquiring an additional 673 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company's stock valued at $37,000 after acquiring an additional 494 shares in the last quarter. Parallel Advisors LLC lifted its stake in Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company's stock worth $39,000 after purchasing an additional 965 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Warby Parker by 56.7% during the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company's stock worth $65,000 after purchasing an additional 850 shares during the last quarter. Institutional investors own 93.24% of the company's stock.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 10,000 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.53, for a total value of $265,300.00. Following the completion of the transaction, the director owned 26,061 shares in the company, valued at approximately $691,398.33. This represents a 27.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa Briggs sold 5,000 shares of the company's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $25.94, for a total transaction of $129,700.00. Following the completion of the transaction, the director owned 48,883 shares of the company's stock, valued at approximately $1,268,025.02. This trade represents a 9.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 341,207 shares of company stock valued at $10,099,571 in the last ninety days. Company insiders own 16.80% of the company's stock.

Warby Parker Stock Performance

Warby Parker stock opened at $25.97 on Monday. The company has a 50-day simple moving average of $26.80 and a 200-day simple moving average of $25.05. The firm has a market capitalization of $2.81 billion, a P/E ratio of 370.99, a P/E/G ratio of 5.50 and a beta of 1.92. Warby Parker Inc. has a one year low of $14.96 and a one year high of $31.00.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WRBY. Citizens Jmp decreased their price objective on shares of Warby Parker from $30.00 to $29.00 and set a "market outperform" rating for the company in a report on Friday, August 7th. Piper Sandler reissued an "overweight" rating on shares of Warby Parker in a report on Tuesday, May 19th. Bank of America assumed coverage on shares of Warby Parker in a research report on Monday, June 29th. They issued a "buy" rating and a $33.00 price target on the stock. BTIG Research reaffirmed a "buy" rating on shares of Warby Parker in a report on Friday. Finally, Telsey Advisory Group boosted their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $30.18.

Warby Parker Company Profile

Warby Parker, Inc NYSE: WRBY is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.

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