Oppenheimer Asset Management Inc. Trims Stock Position in Warby Parker Inc. (NYSE:WRBY)

Oppenheimer Asset Management Inc. decreased its stake in Warby Parker Inc. (NYSE:WRBY) by 8.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,912 shares of the company’s stock after selling 1,560 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Warby Parker were worth $293,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. ProShare Advisors LLC raised its holdings in Warby Parker by 10.2% in the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock worth $211,000 after purchasing an additional 1,434 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Warby Parker by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock worth $782,000 after buying an additional 1,556 shares during the period. Advisors Asset Management Inc. grew its stake in Warby Parker by 79.9% in the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after acquiring an additional 2,276 shares during the period. Hsbc Holdings PLC increased its holdings in Warby Parker by 11.5% in the 2nd quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock worth $413,000 after acquiring an additional 2,651 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Warby Parker by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock worth $717,000 after acquiring an additional 3,007 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Piper Sandler boosted their price target on shares of 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 upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Telsey Advisory Group boosted their target price on shares of Warby Parker from $22.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.82.

Warby Parker Price Performance

WRBY stock opened at $23.27 on Thursday. Warby Parker Inc. has a 1 year low of $10.28 and a 1 year high of $23.39. The firm has a market capitalization of $2.37 billion, a P/E ratio of -86.19 and a beta of 1.80. The business’s 50-day moving average is $17.19 and its two-hundred day moving average is $16.09.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $13.89, for a total transaction of $694,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $169,138.53. The trade was a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Steven Clive Miller sold 15,272 shares of Warby Parker stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares in the company, valued at approximately $2,395,263. This trade represents a 7.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is currently owned by insiders.

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.