Raymond James Financial Inc. Acquires New Holdings in Warby Parker Inc. (NYSE:WRBY)

Raymond James Financial Inc. purchased a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 341,694 shares of the company’s stock, valued at approximately $8,272,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WRBY. Thrivent Financial for Lutherans acquired a new stake in shares of Warby Parker in the 3rd quarter worth approximately $213,000. Quest Partners LLC lifted its stake in shares of Warby Parker by 77.8% in the 3rd quarter. Quest Partners LLC now owns 42,305 shares of the company’s stock worth $691,000 after acquiring an additional 18,514 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Warby Parker by 193.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,620 shares of the company’s stock worth $1,463,000 after acquiring an additional 59,121 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Warby Parker in the 3rd quarter worth approximately $495,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Warby Parker by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 729,049 shares of the company’s stock worth $11,905,000 after acquiring an additional 87,868 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Robert W. Baird upped their price target on shares of Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. JMP Securities upped their price target on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Monday, December 16th. UBS Group increased their target price on shares of Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, February 28th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $28.00 target price on shares of Warby Parker in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and a consensus price target of $23.43.

Warby Parker Price Performance

WRBY stock opened at $18.84 on Friday. Warby Parker Inc. has a 52-week low of $11.66 and a 52-week high of $28.68. The company’s 50 day simple moving average is $24.19 and its 200-day simple moving average is $21.34. The firm has a market capitalization of $1.95 billion, a P/E ratio of -69.78 and a beta of 1.91.

Insider Activity

In other news, CFO Steven Clive Miller sold 11,684 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the sale, the chief financial officer now owns 204,727 shares in the company, valued at $4,815,179.04. The trade was a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at $336,206.97. This represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 389,651 shares of company stock worth $9,855,092 over the last 90 days. 26.55% of the stock is owned by company insiders.

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.