Intech Investment Management LLC Buys New Position in Warby Parker Inc. (NYSE:WRBY)

Intech Investment Management LLC acquired a new stake in Warby Parker Inc. (NYSE:WRBY) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 30,310 shares of the company’s stock, valued at approximately $495,000.

Other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Warby Parker by 193.8% during 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. Jennison Associates LLC grew its position in 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 acquiring an additional 232,530 shares during the last quarter. Quest Partners LLC boosted its position in Warby Parker by 77.8% during the 3rd quarter. Quest Partners LLC now owns 42,305 shares of the company’s stock valued at $691,000 after buying an additional 18,514 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Warby Parker in the 3rd quarter worth approximately $213,000. Finally, Vaughan Nelson Investment Management L.P. lifted 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 purchasing an additional 78,295 shares during the period. Institutional investors own 93.24% of the company’s stock.

Insiders Place Their Bets

In other news, 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 value of $94,005.70. Following the transaction, the chief financial officer now owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,143 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 $352,859.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $158,301. This trade represents a 69.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock valued at $1,339,901 over the last quarter. Company insiders own 26.55% of the company’s stock.

Warby Parker Price Performance

NYSE:WRBY opened at $22.54 on Monday. Warby Parker Inc. has a 12 month low of $10.28 and a 12 month high of $24.60. The firm has a market capitalization of $2.29 billion, a PE ratio of -83.48 and a beta of 1.80. The business’s fifty day moving average price is $18.40 and its 200 day moving average price is $16.54.

Analysts Set New Price Targets

WRBY has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research report on Monday, October 21st. BTIG Research raised their price objective on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Robert W. Baird lifted their price target on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.82.

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.