Los Angeles Capital Management LLC Makes New Investment in Warby Parker Inc. (NYSE:WRBY)

Los Angeles Capital Management LLC acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 22,794 shares of the company’s stock, valued at approximately $372,000.

Several other institutional investors also recently bought and sold shares of WRBY. Advisors Asset Management Inc. boosted its stake in shares of Warby Parker by 79.9% in the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares during the period. First Eagle Investment Management LLC purchased a new position in shares of Warby Parker in the second quarter valued at $131,000. Choreo LLC purchased a new position in shares of Warby Parker in the second quarter valued at $167,000. SG Americas Securities LLC purchased a new position in shares of Warby Parker in the first quarter valued at $176,000. Finally, AQR Capital Management LLC purchased a new position in shares of Warby Parker in the second quarter valued at $186,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WRBY. Piper Sandler upped their target price on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Telsey Advisory Group restated an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research note on Thursday, November 7th. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Friday, August 23rd. Robert W. Baird upped their target price on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Warby Parker Stock Performance

Shares of NYSE:WRBY opened at $21.45 on Monday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -79.44 and a beta of 1.80. Warby Parker Inc. has a 1-year low of $10.28 and a 1-year high of $21.77. The company’s fifty day moving average is $16.64 and its two-hundred day moving average is $15.89.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $13.89, for a total transaction of $694,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $169,138.53. This represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 15,272 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following the transaction, the chief financial officer now owns 184,251 shares of the company’s stock, valued at $2,395,263. This represents a 7.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,178 shares of company stock valued at $1,339,901. Company insiders own 26.55% of the company’s stock.

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.