Impax Asset Management Group plc Purchases 85,000 Shares of Warby Parker Inc. $WRBY

Impax Asset Management Group plc raised its position in Warby Parker Inc. (NYSE:WRBY) by 28.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 385,000 shares of the company’s stock after acquiring an additional 85,000 shares during the period. Impax Asset Management Group plc owned approximately 0.37% of Warby Parker worth $10,618,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Warby Parker by 259.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after purchasing an additional 861 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Warby Parker by 400.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after buying an additional 1,281 shares in the last quarter. Huntington National Bank grew its holdings in shares of Warby Parker by 111.0% during the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after buying an additional 881 shares during the last quarter. State of Tennessee Department of Treasury acquired a new position in shares of Warby Parker during the second quarter valued at about $126,000. Finally, Headlands Technologies LLC increased its position in shares of Warby Parker by 981.3% during the second quarter. Headlands Technologies LLC now owns 6,077 shares of the company’s stock worth $133,000 after acquiring an additional 5,515 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Stock Down 2.5%

WRBY opened at $21.94 on Thursday. The company’s 50-day moving average price is $25.60 and its two-hundred day moving average price is $24.12. Warby Parker Inc. has a twelve month low of $13.63 and a twelve month high of $31.00. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 2,194.10 and a beta of 2.05.

Wall Street Analyst Weigh In

WRBY has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday, December 29th. Robert W. Baird set a $35.00 target price on Warby Parker in a research report on Wednesday, December 17th. BTIG Research upped their price target on Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Telsey Advisory Group reissued an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a research report on Tuesday. Finally, Stifel Nicolaus lifted their price objective on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, December 12th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $27.38.

Insiders Place Their Bets

In other news, Director Youngme E. Moon sold 38,832 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the completion of the transaction, the director owned 27,057 shares in the company, valued at approximately $786,546.99. This represents a 58.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of Warby Parker stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total value of $518,431.32. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $520,200. This trade represents a 49.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 359,424 shares of company stock valued at $9,813,571 over the last ninety days. 18.24% of the stock is currently owned by insiders.

About Warby Parker

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.