Maridea Wealth Management LLC Acquires New Position in Warby Parker Inc. $WRBY

Maridea Wealth Management LLC bought a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,306 shares of the company’s stock, valued at approximately $878,000.

Several other institutional investors also recently bought and sold shares of WRBY. Compass Wealth Management LLC acquired a new stake in shares of Warby Parker during the third quarter worth $2,184,000. Impax Asset Management Group plc increased its stake in Warby Parker by 28.3% in the third quarter. Impax Asset Management Group plc now owns 385,000 shares of the company’s stock valued at $10,618,000 after purchasing an additional 85,000 shares during the last quarter. Ranger Investment Management L.P. acquired a new position in Warby Parker in the second quarter valued at $22,198,000. JPMorgan Chase & Co. lifted its position in Warby Parker by 40.9% during the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after buying an additional 2,120,768 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Warby Parker by 1,112.3% during the second quarter. New York State Common Retirement Fund now owns 353,091 shares of the company’s stock worth $7,743,000 after buying an additional 323,965 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Warby Parker

In related news, Director Bradley E. Singer sold 15,793 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total value of $434,781.29. Following the transaction, the director owned 16,026 shares in the company, valued at approximately $441,195.78. This trade represents a 49.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 37,119 shares in the company, valued at approximately $1,005,182.52. This trade represents a 57.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 216,453 shares of company stock valued at $5,572,075 in the last quarter. Company insiders own 18.24% of the company’s stock.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $22.68 on Monday. The firm has a market capitalization of $2.42 billion, a PE ratio of 1,134.72 and a beta of 2.05. The business has a 50-day moving average of $25.07 and a two-hundred day moving average of $23.86. Warby Parker Inc. has a 12 month low of $13.63 and a 12 month high of $31.00.

Analysts Set New Price Targets

Several analysts have commented on the company. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Wednesday, December 10th. BTIG Research increased their price objective on shares of Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Weiss Ratings cut shares of Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 2nd. UBS Group restated a “neutral” rating and issued a $20.00 target price on shares of Warby Parker in a report on Wednesday, February 25th. Finally, Robert W. Baird set a $35.00 price target on shares of Warby Parker in a research report on Wednesday, December 17th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Warby Parker 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.