Geode Capital Management LLC Buys 144,623 Shares of Warby Parker Inc. (NYSE:WRBY)

Geode Capital Management LLC raised its position in shares of Warby Parker Inc. (NYSE:WRBY) by 7.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,970,620 shares of the company’s stock after acquiring an additional 144,623 shares during the period. Geode Capital Management LLC owned approximately 1.94% of Warby Parker worth $32,187,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Eagle Investment Management LLC bought a new position in Warby Parker during the 2nd quarter valued at about $131,000. Choreo LLC bought a new position in shares of Warby Parker during the second quarter valued at approximately $167,000. AQR Capital Management LLC purchased a new stake in shares of Warby Parker in the second quarter worth approximately $186,000. Thrivent Financial for Lutherans bought a new stake in shares of Warby Parker during the 3rd quarter worth approximately $213,000. Finally, LVW Advisors LLC boosted its holdings in Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after acquiring an additional 3,500 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $287,986.05. This trade represents a 80.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 7,016 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the transaction, the chief financial officer now directly owns 182,130 shares in the company, valued at $4,343,800.50. This represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,086 shares of company stock valued at $3,909,698 over the last quarter. 26.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on WRBY shares. Stifel Nicolaus lifted their target price on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. JMP Securities lifted their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday, December 16th. BTIG Research upped their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group raised their target price on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler boosted their price target on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.73.

Warby Parker Trading Up 2.6 %

Shares of NYSE:WRBY opened at $25.72 on Thursday. The company has a market capitalization of $2.61 billion, a PE ratio of -95.26 and a beta of 1.93. Warby Parker Inc. has a 12-month low of $11.35 and a 12-month high of $25.89. The business’s fifty day simple moving average is $21.39 and its 200-day simple moving average is $17.43.

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.