Rhumbline Advisers Buys 6,697 Shares of Warby Parker Inc. $WRBY

Rhumbline Advisers lifted its stake in shares of Warby Parker Inc. (NYSE:WRBY) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,612 shares of the company’s stock after acquiring an additional 6,697 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Warby Parker worth $2,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Warby Parker in the first quarter worth approximately $2,029,000. New York State Teachers Retirement System bought a new stake in Warby Parker in the first quarter worth approximately $27,000. Jennison Associates LLC increased its holdings in Warby Parker by 23.7% in the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company’s stock worth $39,635,000 after purchasing an additional 416,797 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Warby Parker in the first quarter worth approximately $656,000. Finally, Ieq Capital LLC increased its holdings in Warby Parker by 113.4% in the first quarter. Ieq Capital LLC now owns 29,643 shares of the company’s stock worth $540,000 after purchasing an additional 15,749 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Up 2.9%

Shares of NYSE:WRBY opened at $27.13 on Wednesday. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of -387.52 and a beta of 2.10. Warby Parker Inc. has a 12-month low of $13.63 and a 12-month high of $29.73. The business’s 50 day moving average is $25.09 and its 200 day moving average is $21.15.

Insiders Place Their Bets

In other Warby Parker news, Director Joel E. Cutler sold 35,000 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the transaction, the director owned 19,932 shares of the company’s stock, valued at approximately $533,181. The trade was a 63.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa Briggs sold 6,000 shares of the business’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $23.56, for a total value of $141,360.00. Following the completion of the transaction, the director directly owned 44,879 shares in the company, valued at approximately $1,057,349.24. This represents a 11.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,084 shares of company stock valued at $4,674,573. Insiders own 18.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI reiterated a “positive” rating on shares of Warby Parker in a report on Thursday, August 7th. BTIG Research reiterated a “buy” rating and issued a $28.00 target price (up from $24.00) on shares of Warby Parker in a report on Thursday, August 7th. TD Securities lifted their target price on Warby Parker from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st. UBS Group reissued a “neutral” rating and issued a $23.00 price objective (up previously from $20.00) on shares of Warby Parker in a research note on Friday, August 8th. Finally, Roth Capital set a $24.00 price objective on Warby Parker and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.06.

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.