Compass Wealth Management LLC Makes New Investment in Warby Parker Inc. $WRBY

Compass Wealth Management LLC purchased a new stake in Warby Parker Inc. (NYSE:WRBY) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 79,193 shares of the company’s stock, valued at approximately $2,184,000. Compass Wealth Management LLC owned about 0.08% of Warby Parker at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Warby Parker by 987.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company’s stock valued at $113,654,000 after purchasing an additional 4,706,148 shares during the period. Artisan Partners Limited Partnership bought a new stake in Warby Parker in the second quarter valued at approximately $27,589,000. Ranger Investment Management L.P. acquired a new stake in shares of Warby Parker in the second quarter valued at approximately $22,198,000. Goldman Sachs Group Inc. lifted its position in shares of Warby Parker by 96.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after buying an additional 929,073 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Warby Parker by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock worth $57,133,000 after acquiring an additional 884,035 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warby Parker

In other news, Director Youngme E. Moon sold 38,832 shares of the company’s 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 sale, the director directly 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 SEC, which can be accessed through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the firm’s stock in a transaction on 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 transaction, the director owned 20,000 shares in the company, valued at $520,200. The trade was a 49.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 359,424 shares of company stock valued at $9,813,571 in the last three months. Corporate insiders own 18.24% of the company’s stock.

Warby Parker Trading Up 2.5%

NYSE WRBY opened at $23.30 on Friday. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00. The company has a 50 day moving average of $25.46 and a 200-day moving average of $24.06. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 2,330.00 and a beta of 2.05.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WRBY shares. Stifel Nicolaus increased their price target on Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, December 12th. Robert W. Baird set a $35.00 price objective on shares of Warby Parker in a research report on Wednesday, December 17th. UBS Group cut their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $32.00 target price on shares of Warby Parker in a report on Tuesday, February 10th. Finally, Piper Sandler increased their price target on shares of Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.83.

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.