Los Angeles Capital Management LLC Acquires New Position in Warby Parker Inc. (NYSE:WRBY)

Los Angeles Capital Management LLC acquired a new stake in Warby Parker Inc. (NYSE:WRBY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,794 shares of the company’s stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WRBY. SG Americas Securities LLC acquired a new stake in shares of Warby Parker in the first quarter valued at about $176,000. Russell Investments Group Ltd. lifted its stake in shares of Warby Parker by 37.1% in the first quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock valued at $3,067,000 after purchasing an additional 61,004 shares during the period. ProShare Advisors LLC raised its position in Warby Parker by 10.2% during the first quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock worth $211,000 after acquiring an additional 1,434 shares during the last quarter. Vanguard Group Inc. raised its position in Warby Parker by 2.6% during the first quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock worth $118,095,000 after acquiring an additional 219,120 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Warby Parker by 79.9% during the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after acquiring an additional 2,276 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Stock Performance

Warby Parker stock opened at $21.45 on Monday. Warby Parker Inc. has a 1 year low of $10.28 and a 1 year high of $21.77. The firm has a 50 day moving average price of $16.64 and a 200 day moving average price of $15.89. The company has a market cap of $2.18 billion, a price-to-earnings ratio of -79.44 and a beta of 1.80.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $13.89, for a total transaction of $694,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $169,138.53. The trade was a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of research reports. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Friday, August 23rd. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Telsey Advisory Group restated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Thursday, November 7th. Piper Sandler lifted their target price on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.18.

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.