Quest Partners LLC Increases Stake in Warby Parker Inc. (NYSE:WRBY)

Quest Partners LLC grew its position in Warby Parker Inc. (NYSE:WRBY) by 77.8% during the 3rd quarter, Holdings Channel reports. The fund owned 42,305 shares of the company’s stock after buying an additional 18,514 shares during the quarter. Quest Partners LLC’s holdings in Warby Parker were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in WRBY. Thrivent Financial for Lutherans acquired a new stake in Warby Parker in the third quarter valued at about $213,000. Vaughan Nelson Investment Management L.P. lifted its holdings 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 valued at $41,735,000 after buying an additional 78,295 shares during the period. Natixis Advisors LLC boosted its stake in shares of Warby Parker by 4.7% in the third quarter. Natixis Advisors LLC now owns 466,413 shares of the company’s stock valued at $7,617,000 after buying an additional 21,121 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Warby Parker during the third quarter worth $372,000. Finally, TimesSquare Capital Management LLC raised its position in Warby Parker by 12.8% in the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after acquiring an additional 211,050 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WRBY shares. BTIG Research increased their target price on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Piper Sandler lifted their price target on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Stifel Nicolaus boosted their price objective on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Robert W. Baird raised their target price on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Warby Parker presently has a consensus rating of “Moderate Buy” and an average price target of $18.82.

Warby Parker Stock Performance

Shares of WRBY opened at $23.11 on Friday. Warby Parker Inc. has a 1 year low of $10.28 and a 1 year high of $23.83. The company’s 50 day simple moving average is $17.37 and its 200 day simple moving average is $16.14. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -85.59 and a beta of 1.80.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 27,143 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $352,859.00. Following the completion of the transaction, the chief executive officer now 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 SEC, which is available through this link. Also, CFO Steven Clive Miller sold 6,763 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at $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. In the last three months, insiders sold 99,178 shares of company stock worth $1,339,901. Insiders own 26.55% of the company’s stock.

Warby Parker Company 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.