GSA Capital Partners LLP Takes Position in Warby Parker Inc. $WRBY

GSA Capital Partners LLP purchased a new position in shares of Warby Parker Inc. (NYSE:WRBY) in the third quarter, HoldingsChannel reports. The institutional investor purchased 47,965 shares of the company’s stock, valued at approximately $1,323,000.

Several other hedge funds also recently added to or reduced their stakes in WRBY. Vanguard Group Inc. boosted its position in shares of Warby Parker by 3.2% in the third quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after buying an additional 327,830 shares during the period. JPMorgan Chase & Co. boosted its holdings in Warby Parker by 40.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after acquiring an additional 2,120,768 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Warby Parker by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock valued at $57,133,000 after purchasing an additional 884,035 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Warby Parker by 9.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,421,950 shares of the company’s stock valued at $66,797,000 after purchasing an additional 205,630 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Warby Parker by 7.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,201,817 shares of the company’s stock worth $48,292,000 after buying an additional 148,847 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Joel E. Cutler sold 19,932 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total value of $518,431.32. Following the sale, the director directly owned 20,000 shares in the company, valued at approximately $520,200. The trade was a 49.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $27.08, for a total transaction of $1,354,000.00. Following the completion of the sale, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at $1,005,182.52. The trade was a 57.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 359,424 shares of company stock valued at $9,813,571. Corporate insiders own 18.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Wednesday, December 10th. Citigroup upgraded Warby Parker from a “hold” rating to an “outperform” rating in a research note on Wednesday, December 10th. Wall Street Zen lowered Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Piper Sandler raised their price target on shares of Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a research note on Tuesday, February 10th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $27.83.

Warby Parker Trading Up 3.6%

NYSE WRBY opened at $22.75 on Thursday. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $31.00. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 2,274.90 and a beta of 2.05. The company has a 50-day moving average price of $25.60 and a two-hundred day moving average price of $24.06.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.