State of New Jersey Common Pension Fund D Acquires New Stake in Warby Parker Inc. $WRBY

State of New Jersey Common Pension Fund D bought a new stake in Warby Parker Inc. (NYSE:WRBY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 81,590 shares of the company’s stock, valued at approximately $2,250,000. State of New Jersey Common Pension Fund D owned 0.08% of Warby Parker as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Warby Parker by 259.3% during 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 last quarter. PNC Financial Services Group Inc. grew its position in Warby Parker by 400.3% during 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 during the period. Huntington National Bank increased its holdings in 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 bought a new position in Warby Parker in the second quarter worth approximately $126,000. Finally, Headlands Technologies LLC boosted its stake in shares of Warby Parker by 981.3% during the 2nd quarter. Headlands Technologies LLC now owns 6,077 shares of the company’s stock worth $133,000 after acquiring an additional 5,515 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the 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 transaction, the chief executive officer owned 37,119 shares of the company’s stock, valued at $1,005,182.52. This represents a 57.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joel E. Cutler sold 19,932 shares of the business’s 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 owned 20,000 shares in the company, valued at $520,200. This represents a 49.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 359,424 shares of company stock worth $9,813,571 in the last 90 days. 18.24% of the stock is currently owned by corporate insiders.

Warby Parker Stock Performance

WRBY stock opened at $23.71 on Monday. The company’s fifty day moving average price is $25.39 and its 200-day moving average price is $24.05. Warby Parker Inc. has a one year low of $13.63 and a one year high of $31.00. The company has a market capitalization of $2.51 billion, a PE ratio of 2,370.70 and a beta of 2.05.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Warby Parker in a research report on Friday. BTIG Research lifted their price target on shares of Warby Parker from $25.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Wall Street Zen lowered shares of Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Citizens Jmp upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Wednesday, December 10th. Finally, Citigroup upgraded shares of Warby Parker from a “hold” rating to an “outperform” rating in a research note on Wednesday, December 10th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently 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.