KLP Kapitalforvaltning AS Purchases New Holdings in Warby Parker Inc. (NYSE:WRBY)

KLP Kapitalforvaltning AS acquired a new position in Warby Parker Inc. (NYSE:WRBY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,400 shares of the company’s stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Warby Parker by 64.7% during the fourth quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock valued at $51,916,000 after acquiring an additional 842,558 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Warby Parker in the 4th quarter worth about $14,596,000. Raymond James Financial Inc. bought a new stake in shares of Warby Parker in the fourth quarter worth approximately $8,272,000. First Eagle Investment Management LLC raised its stake in Warby Parker by 792.7% during the 4th quarter. First Eagle Investment Management LLC now owns 312,258 shares of the company’s stock valued at $7,560,000 after buying an additional 277,278 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Warby Parker by 19.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,632,341 shares of the company’s stock valued at $39,519,000 after acquiring an additional 268,025 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several recent research reports. Citigroup restated an “outperform” rating on shares of Warby Parker in a research report on Friday, February 28th. Stifel Nicolaus upped their price objective on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their target price on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Roth Capital upgraded Warby Parker to a “strong-buy” rating in a research report on Monday, February 24th. Finally, Robert W. Baird lifted their price objective on Warby Parker from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.43.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $27.61, for a total value of $1,380,500.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $336,206.97. This trade represents a 80.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 11,684 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. This represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,651 shares of company stock valued at $2,313,092. 26.55% of the stock is currently owned by insiders.

Warby Parker Stock Performance

Shares of NYSE:WRBY opened at $15.79 on Friday. The firm has a fifty day moving average price of $22.80 and a 200 day moving average price of $21.59. Warby Parker Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $28.68. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -58.49 and a beta of 1.91.

About Warby Parker

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.