58,946 Shares in Warby Parker Inc. $WRBY Bought by Udine Wealth Management Inc.

Udine Wealth Management Inc. bought a new stake in Warby Parker Inc. (NYSE:WRBY) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 58,946 shares of the company’s stock, valued at approximately $1,284,000. Udine Wealth Management Inc. owned about 0.06% of Warby Parker at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Warby Parker by 3.2% in the third quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after buying an additional 327,830 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Warby Parker by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after purchasing an additional 2,120,768 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Warby Parker by 9.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,421,950 shares of the company’s stock valued at $66,797,000 after purchasing an additional 205,630 shares during the period. Marshall Wace LLP raised its position in Warby Parker by 10.1% during the 3rd quarter. Marshall Wace LLP now owns 2,060,103 shares of the company’s stock valued at $56,818,000 after purchasing an additional 189,758 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after buying an additional 929,073 shares during the period. Institutional investors own 93.24% of the company’s stock.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 150,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the completion of the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at $931,315.71. This trade represents a 80.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bradley E. Singer sold 15,793 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total transaction of $434,781.29. Following the completion of the transaction, the director owned 16,026 shares in the company, valued at approximately $441,195.78. The trade was a 49.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 216,453 shares of company stock valued at $5,572,075 over the last 90 days. Corporate insiders own 18.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WRBY. Piper Sandler upped their target price on Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. UBS Group reaffirmed a “neutral” rating and set a $20.00 target price on shares of Warby Parker in a research note on Wednesday, February 25th. Weiss Ratings downgraded shares of Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, March 2nd. BTIG Research raised their price objective on shares of Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, 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, February 20th. Ten equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Warby Parker Stock Down 5.0%

WRBY stock opened at $20.33 on Friday. The business has a 50 day moving average of $24.01 and a 200 day moving average of $23.60. The firm has a market cap of $2.17 billion, a PE ratio of 1,017.06 and a beta of 2.07. Warby Parker Inc. has a twelve month low of $13.63 and a twelve month high of $31.00.

About Warby Parker

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.