Warby Parker Inc. $WRBY Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Warby Parker Inc. (NYSE:WRBY) by 24.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 505,127 shares of the company’s stock after selling 167,277 shares during the period. Victory Capital Management Inc.’s holdings in Warby Parker were worth $13,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in WRBY. AQR Capital Management LLC boosted its stake in Warby Parker by 101.0% during the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after buying an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after acquiring an additional 2,297 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after acquiring an additional 929,073 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Warby Parker during the 1st quarter valued at about $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Warby Parker by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after purchasing an additional 38,395 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total value of $1,354,000.00. Following the completion of the transaction, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at $1,005,182.52. The trade was a 57.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Youngme E. Moon sold 38,832 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the completion of the transaction, the director directly owned 27,057 shares of the company’s stock, valued at approximately $786,546.99. The trade was a 58.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 375,217 shares of company stock worth $10,248,352 in the last ninety days. 18.24% of the stock is owned by company insiders.

Warby Parker Stock Performance

Warby Parker stock opened at $25.54 on Wednesday. The company’s 50 day simple moving average is $25.25 and its 200-day simple moving average is $23.99. Warby Parker Inc. has a 1 year low of $13.63 and a 1 year high of $31.00. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 1,277.74 and a beta of 2.05.

Analyst Upgrades and Downgrades

WRBY has been the topic of a number of analyst reports. BTIG Research lifted their target price on shares of Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings lowered shares of Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 2nd. Robert W. Baird set a $35.00 price objective on Warby Parker in a report on Wednesday, December 17th. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Wednesday, December 10th. Finally, UBS Group restated a “neutral” rating and issued a $20.00 target price on shares of Warby Parker in a research report on Wednesday, February 25th. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.83.

Warby Parker Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.