Vanguard Group Inc. Acquires 18,283 Shares of Warby Parker Inc. (NYSE:WRBY)

Vanguard Group Inc. lifted its stake in Warby Parker Inc. (NYSE:WRBY) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,818,075 shares of the company’s stock after purchasing an additional 18,283 shares during the quarter. Vanguard Group Inc. owned about 9.66% of Warby Parker worth $237,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WRBY. Global Retirement Partners LLC bought a new stake in Warby Parker in the fourth quarter worth $25,000. Jones Financial Companies Lllp raised its position in shares of Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock worth $37,000 after purchasing an additional 1,028 shares during the last quarter. KBC Group NV boosted its stake in Warby Parker by 39.3% in the 4th quarter. KBC Group NV now owns 4,743 shares of the company’s stock worth $115,000 after purchasing an additional 1,339 shares in the last quarter. Cibc World Markets Corp bought a new stake in Warby Parker during the 4th quarter valued at about $201,000. Finally, Thrivent Financial for Lutherans bought a new stake in Warby Parker during the 3rd quarter valued at about $213,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Down 2.0 %

Shares of WRBY opened at $15.79 on Friday. The business has a 50-day simple moving average of $22.80 and a two-hundred day simple moving average of $21.64. Warby Parker Inc. has a 52 week low of $11.66 and a 52 week high of $28.68. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -58.49 and a beta of 2.00.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WRBY shares. The Goldman Sachs Group increased their price target on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JMP Securities increased their target price on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. UBS Group lifted their target price on Warby Parker from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Citigroup reaffirmed an “outperform” rating on shares of Warby Parker in a report on Friday, February 28th. Finally, Stifel Nicolaus lifted their price objective on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.43.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 11,684 shares of Warby Parker stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the sale, the chief financial officer now owns 204,727 shares of the company’s stock, valued at approximately $4,815,179.04. This trade represents a 5.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $657,783.84. Following the completion of the transaction, the chief executive officer now directly owns 23,961 shares in the company, valued at $563,562.72. This trade represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,651 shares of company stock worth $2,313,092. 26.55% of the stock is owned by company 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.