Great Lakes Advisors LLC Takes Position in Warby Parker Inc. (NYSE:WRBY)

Great Lakes Advisors LLC purchased a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 602,895 shares of the company's stock, valued at approximately $14,596,000. Great Lakes Advisors LLC owned 0.59% of Warby Parker at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BBR Partners LLC acquired a new stake in Warby Parker during the fourth quarter worth approximately $239,000. Lisanti Capital Growth LLC acquired a new stake in Warby Parker during the fourth quarter worth approximately $5,855,000. Raymond James Financial Inc. acquired a new stake in Warby Parker during the fourth quarter worth approximately $8,272,000. Arizona State Retirement System grew its stake in Warby Parker by 2.6% during the fourth quarter. Arizona State Retirement System now owns 24,881 shares of the company's stock worth $602,000 after purchasing an additional 619 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Warby Parker during the fourth quarter worth approximately $273,000. Institutional investors and hedge funds own 93.24% of the company's stock.

Warby Parker Price Performance

Shares of WRBY stock traded down $0.11 during trading hours on Thursday, reaching $20.35. The company had a trading volume of 2,309,598 shares, compared to its average volume of 1,891,540. Warby Parker Inc. has a 12 month low of $11.35 and a 12 month high of $28.68. The business has a fifty day simple moving average of $25.14 and a 200-day simple moving average of $21.12. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -75.38 and a beta of 1.91.

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Insider Activity

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $336,206.97. This trade represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven Clive Miller sold 11,684 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the completion of the sale, the chief financial officer now directly owns 204,727 shares of the company's stock, valued at $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 539,651 shares of company stock worth $13,617,652 over the last 90 days. 26.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several recent analyst reports. Telsey Advisory Group reaffirmed an "outperform" rating and set a $28.00 target price on shares of Warby Parker in a research note on Thursday, February 27th. Robert W. Baird raised their target price on Warby Parker from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Morgan Stanley increased their price target on Warby Parker from $17.00 to $23.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Stifel Nicolaus increased their price target on Warby Parker from $17.00 to $20.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $23.43.

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.