Jennison Associates LLC Raises Holdings in Warby Parker Inc. (NYSE:WRBY)

Jennison Associates LLC increased its position in shares of Warby Parker Inc. (NYSE:WRBY) by 13.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,939,116 shares of the company’s stock after buying an additional 232,530 shares during the period. Jennison Associates LLC’s holdings in Warby Parker were worth $31,666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC increased its position in Warby Parker by 610.3% during the 2nd 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 period. Vaughan Nelson Investment Management L.P. increased its holdings in Warby Parker by 113.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock valued at $39,787,000 after buying an additional 1,315,672 shares during the period. Maverick Capital Ltd. bought a new position in Warby Parker in the second quarter worth approximately $1,465,000. Russell Investments Group Ltd. lifted its holdings in Warby Parker by 37.1% during the first quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock worth $3,067,000 after buying an additional 61,004 shares during the period. Finally, Driehaus Capital Management LLC boosted its position in Warby Parker by 43.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock valued at $12,952,000 after acquiring an additional 246,011 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 15,272 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the sale, the chief financial officer now owns 184,251 shares in the company, valued at approximately $2,395,263. The trade was a 7.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $13.89, for a total transaction of $694,500.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at $169,138.53. This trade represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,178 shares of company stock worth $1,339,901. Insiders own 26.55% of the company’s stock.

Warby Parker Stock Performance

Shares of Warby Parker stock opened at $23.27 on Friday. The business’s 50 day moving average price is $17.37 and its 200 day moving average price is $16.14. The company has a market cap of $2.37 billion, a price-to-earnings ratio of -86.19 and a beta of 1.80. Warby Parker Inc. has a one year low of $10.28 and a one year high of $23.39.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Friday, August 23rd. The Goldman Sachs Group raised Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Robert W. Baird raised their price objective on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Piper Sandler increased their price target on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.82.

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.