Y Intercept Hong Kong Ltd Takes Position in Warby Parker Inc. (NYSE:WRBY)

Y Intercept Hong Kong Ltd acquired a new position in Warby Parker Inc. (NYSE:WRBY) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 19,488 shares of the company’s stock, valued at approximately $318,000.

Other large investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC bought a new stake in shares of Warby Parker during the 2nd quarter worth about $131,000. Choreo LLC bought a new stake in Warby Parker during the second quarter worth approximately $167,000. AQR Capital Management LLC acquired a new stake in Warby Parker in the second quarter worth approximately $186,000. Thrivent Financial for Lutherans bought a new position in Warby Parker during the 3rd quarter valued at $213,000. Finally, LVW Advisors LLC increased its position in shares of Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Stock Performance

WRBY opened at $24.29 on Wednesday. The company has a market cap of $2.47 billion, a PE ratio of -89.96 and a beta of 1.93. The stock has a 50-day moving average of $20.11 and a 200-day moving average of $17.05. Warby Parker Inc. has a 52-week low of $11.35 and a 52-week high of $24.71.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WRBY. JMP Securities upped their price objective on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a report on Monday. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised 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 report on Monday, October 21st. Robert W. Baird raised their price objective on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Stifel Nicolaus raised their price objective on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Warby Parker has an average rating of “Moderate Buy” and an average target price of $20.73.

Insider Buying and Selling

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.65, for a total value of $1,182,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $287,986.05. This trade represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total value of $167,331.60. Following the transaction, the chief financial officer now directly owns 182,130 shares of the company’s stock, valued at $4,343,800.50. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,032 shares of company stock worth $2,503,303. 26.55% of the stock is currently owned by insiders.

Warby Parker 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.