Natixis Advisors LLC Raises Position in Warby Parker Inc. $WRBY

Natixis Advisors LLC increased its stake in Warby Parker Inc. (NYSE:WRBY) by 13.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 410,540 shares of the company’s stock after purchasing an additional 47,536 shares during the quarter. Natixis Advisors LLC’s holdings in Warby Parker were worth $11,323,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WRBY. AQR Capital Management LLC lifted its position in Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after acquiring an additional 86,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Warby Parker by 4.6% in 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. grew its position in Warby Parker by 96.8% in the first 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 in the last quarter. Caxton Associates LLP acquired a new stake in Warby Parker in the first quarter valued at approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Warby Parker by 17.6% during 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. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Warby Parker Trading Down 7.4%

Warby Parker stock opened at $23.53 on Friday. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $31.00. The stock has a market cap of $2.51 billion, a P/E ratio of 1,177.29 and a beta of 2.05. The stock has a 50 day moving average of $25.35 and a 200-day moving average of $24.00.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WRBY shares. Stifel Nicolaus boosted their target price on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. Piper Sandler lifted their price target on shares of Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. UBS Group reiterated a “neutral” rating and issued a $20.00 price objective on shares of Warby Parker in a report on Wednesday, February 25th. Citizens Jmp raised shares of 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, Weiss Ratings downgraded Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, March 2nd. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.83.

Insider Buying and Selling at Warby Parker

In other news, Director Joel E. Cutler sold 19,932 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total value of $518,431.32. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $520,200. The trade was a 49.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 150,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the completion of the sale, the chief executive officer owned 37,119 shares in the company, valued at approximately $931,315.71. This trade represents a 80.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 236,385 shares of company stock worth $6,090,506 in the last ninety days. 18.24% of the stock is owned by insiders.

About Warby Parker

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.