Algert Global LLC Grows Position in Warby Parker Inc. (NYSE:WRBY)

Algert Global LLC raised its position in Warby Parker Inc. (NYSE:WRBY) by 245.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,546 shares of the company’s stock after purchasing an additional 99,200 shares during the quarter. Algert Global LLC’s holdings in Warby Parker were worth $2,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Warby Parker by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock valued at $118,095,000 after buying an additional 219,120 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after acquiring an additional 78,295 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Warby Parker by 13.6% during the 3rd quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock worth $31,666,000 after purchasing an additional 232,530 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in Warby Parker by 12.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after purchasing an additional 211,050 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after purchasing an additional 481,900 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on WRBY. Piper Sandler increased their price target on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Telsey Advisory Group lifted their price target on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Stifel Nicolaus increased their price objective on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Warby Parker has a consensus rating of “Moderate Buy” and a consensus price target of $18.82.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 27,143 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $158,301. This represents a 69.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following the transaction, the chief financial officer now directly owns 184,251 shares of the company’s stock, valued at approximately $2,395,263. This trade represents a 7.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,178 shares of company stock valued at $1,339,901. Company insiders own 26.55% of the company’s stock.

Warby Parker Price Performance

Shares of WRBY stock opened at $24.15 on Wednesday. The business has a fifty day moving average of $17.72 and a 200 day moving average of $16.33. Warby Parker Inc. has a 1 year low of $10.28 and a 1 year high of $24.52. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -89.44 and a beta of 1.80.

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.