Warby Parker Inc. (NYSE:WRBY) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lowered its holdings in Warby Parker Inc. (NYSE:WRBY) by 63.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,235,169 shares of the company’s stock after selling 3,840,821 shares during the quarter. Baillie Gifford & Co.’s holdings in Warby Parker were worth $35,897,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Zweig DiMenna Associates LLC acquired a new position in Warby Parker in the second quarter worth approximately $5,183,000. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Warby Parker by 113.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after acquiring an additional 1,315,672 shares during the last quarter. LVW Advisors LLC acquired a new stake in shares of Warby Parker during the second quarter worth $201,000. SG Americas Securities LLC lifted its holdings in shares of Warby Parker by 610.3% during the second quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock valued at $1,471,000 after purchasing an additional 78,702 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its position in shares of Warby Parker by 71.4% in the 1st quarter. Invenomic Capital Management LP now owns 417,256 shares of the company’s stock valued at $5,679,000 after purchasing an additional 173,861 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WRBY. Stifel Nicolaus boosted their price objective on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday. Piper Sandler assumed coverage on shares of Warby Parker in a research note on Friday. They set an “overweight” rating and a $18.00 target price on the stock. Loop Capital raised their target price on Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. Finally, UBS Group upped their price target on Warby Parker from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.11.

Warby Parker Stock Performance

Shares of NYSE:WRBY traded up $1.65 during midday trading on Friday, hitting $15.51. 5,437,694 shares of the stock were exchanged, compared to its average volume of 1,681,793. The company has a market capitalization of $1.56 billion, a PE ratio of -33.00 and a beta of 1.82. Warby Parker Inc. has a 52-week low of $9.83 and a 52-week high of $17.95. The business’s fifty day simple moving average is $15.37 and its two-hundred day simple moving average is $14.50.

Insiders Place Their Bets

In other news, CFO Steven Clive Miller sold 15,709 shares of Warby Parker stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total value of $267,681.36. Following the transaction, the chief financial officer now owns 166,879 shares of the company’s stock, valued at $2,843,618.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Bradley E. Singer purchased 50,000 shares of Warby Parker stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $1,300,000. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 15,709 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $17.04, for a total transaction of $267,681.36. Following the sale, the chief financial officer now directly owns 166,879 shares in the company, valued at $2,843,618.16. The disclosure for this sale can be found here. Insiders sold 5,848,537 shares of company stock valued at $91,938,722 over the last 90 days. 26.55% of the stock is currently owned by company insiders.

Warby Parker Company 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.