Victory Capital Management Inc. Trims Stake in Warby Parker Inc. $WRBY

Victory Capital Management Inc. cut its stake in Warby Parker Inc. (NYSE:WRBY) by 24.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 505,127 shares of the company’s stock after selling 167,277 shares during the quarter. Victory Capital Management Inc. owned approximately 0.48% of Warby Parker worth $13,931,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC increased its holdings in shares of Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after purchasing an additional 86,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Warby Parker by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after buying an additional 2,297 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Warby Parker by 96.8% during 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 period. Caxton Associates LLP purchased a new position in Warby Parker in the first quarter valued at $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Warby Parker by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after buying an additional 38,395 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analysts Set New Price Targets

WRBY has been the topic of a number of analyst reports. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Wednesday, December 10th. Citigroup raised Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Weiss Ratings lowered Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. BTIG Research boosted their price objective on Warby Parker from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Piper Sandler upped their target price on Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.83.

Warby Parker Price Performance

NYSE WRBY opened at $25.54 on Wednesday. The stock’s 50 day simple moving average is $25.25 and its 200-day simple moving average is $23.99. The company has a market cap of $2.73 billion, a PE ratio of 1,277.74 and a beta of 2.05. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Bradley E. Singer sold 15,793 shares of Warby Parker stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total transaction of $434,781.29. Following the sale, the director owned 16,026 shares of the company’s stock, valued at $441,195.78. The trade was a 49.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total transaction of $518,431.32. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at $520,200. This trade represents a 49.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 375,217 shares of company stock worth $10,248,352. Company insiders own 18.24% of the company’s stock.

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.