State Street Corp Acquires 69,108 Shares of Warby Parker Inc. (NYSE:WRBY)

State Street Corp grew its holdings in Warby Parker Inc. (NYSE:WRBY) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,209,025 shares of the company’s stock after purchasing an additional 69,108 shares during the period. State Street Corp owned about 2.17% of Warby Parker worth $36,073,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CFO Steven Clive Miller sold 7,016 shares of Warby Parker stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the sale, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $275,321.97. The trade was a 74.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,086 shares of company stock valued at $3,909,698. 26.55% of the stock is owned by insiders.

Warby Parker Price Performance

Warby Parker stock opened at $25.18 on Friday. The firm’s 50 day simple moving average is $20.61 and its 200-day simple moving average is $17.20. Warby Parker Inc. has a fifty-two week low of $11.35 and a fifty-two week high of $25.35. The company has a market cap of $2.56 billion, a P/E ratio of -93.26 and a beta of 1.93.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WRBY. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.00 to $18.00 in a report on Monday, October 21st. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. 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 report on Friday, November 1st. The Goldman Sachs Group upped their target price on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Robert W. Baird lifted their target price on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Warby Parker has an average rating of “Moderate Buy” and a consensus price target of $20.73.

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.