Driehaus Capital Management LLC Raises Stock Position in Warby Parker Inc. (NYSE:WRBY)

Driehaus Capital Management LLC lifted its holdings in Warby Parker Inc. (NYSE:WRBY) by 18.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 964,441 shares of the company’s stock after buying an additional 151,871 shares during the period. Driehaus Capital Management LLC’s holdings in Warby Parker were worth $23,349,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Shaker Investments LLC OH bought a new stake in Warby Parker during the fourth quarter worth approximately $279,000. Raymond James Financial Inc. purchased a new position in shares of Warby Parker in the 4th quarter worth approximately $8,272,000. Jones Financial Companies Lllp increased its position in shares of Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after purchasing an additional 1,028 shares during the last quarter. Invesco Ltd. raised its holdings in Warby Parker by 69.0% during the 4th quarter. Invesco Ltd. now owns 152,934 shares of the company’s stock valued at $3,703,000 after buying an additional 62,462 shares during the period. Finally, Legato Capital Management LLC purchased a new stake in Warby Parker during the 4th quarter valued at $1,316,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WRBY shares. The Goldman Sachs Group cut their price objective on shares of Warby Parker from $29.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus cut their price target on shares of Warby Parker from $25.00 to $18.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $30.00 price objective on shares of Warby Parker in a research report on Thursday, May 1st. Morgan Stanley boosted their target price on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Roth Mkm initiated coverage on Warby Parker in a report on Tuesday, February 25th. They issued a “neutral” rating and a $26.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.64.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,967 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $657,783.84. Following the completion of the sale, the chief executive officer now owns 23,961 shares in the company, valued at $563,562.72. This represents a 53.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the sale, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. This trade represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. 26.55% of the stock is owned by insiders.

Warby Parker Trading Up 2.8 %

WRBY opened at $16.62 on Friday. The business’s fifty day simple moving average is $17.45 and its 200-day simple moving average is $21.51. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -61.54 and a beta of 2.01. Warby Parker Inc. has a 12-month low of $12.46 and a 12-month high of $28.68.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.