Panagora Asset Management Inc. Boosts Stake in Warby Parker Inc. (NYSE:WRBY)

Panagora Asset Management Inc. raised its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 214,560 shares of the company's stock after buying an additional 16,939 shares during the quarter. Panagora Asset Management Inc. owned about 0.22% of Warby Parker worth $3,446,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WRBY. Vanguard Group Inc. grew its stake in shares of Warby Parker by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company's stock worth $118,095,000 after buying an additional 219,120 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in Warby Parker by 113.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company's stock worth $39,787,000 after acquiring an additional 1,315,672 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Warby Parker by 149.4% in the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company's stock worth $22,970,000 after acquiring an additional 1,011,030 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Warby Parker by 17.2% during the first quarter. Jennison Associates LLC now owns 1,000,138 shares of the company's stock valued at $13,612,000 after acquiring an additional 146,697 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Warby Parker by 14.8% during the second quarter. Bank of New York Mellon Corp now owns 807,272 shares of the company's stock valued at $12,965,000 after acquiring an additional 104,360 shares in the last quarter. Institutional investors own 93.24% of the company's stock.

Warby Parker Stock Down 0.3 %

WRBY traded down $0.04 during mid-day trading on Friday, reaching $14.92. 2,969,282 shares of the company traded hands, compared to its average volume of 1,382,617. The company's fifty day moving average price is $15.34 and its 200-day moving average price is $14.55. The stock has a market capitalization of $1.50 billion, a P/E ratio of -31.74 and a beta of 1.82. Warby Parker Inc. has a 52-week low of $9.83 and a 52-week high of $17.95.

Insider Buying and Selling

In other Warby Parker news, Director Teresa Briggs sold 7,396 shares of the business's stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $16.31, for a total transaction of $120,628.76. Following the completion of the sale, the director now directly owns 38,859 shares in the company, valued at approximately $633,790.29. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Teresa Briggs sold 7,396 shares of Warby Parker stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.31, for a total transaction of $120,628.76. Following the transaction, the director now owns 38,859 shares in the company, valued at approximately $633,790.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 15,709 shares of the business's stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total transaction of $267,681.36. Following the sale, the chief financial officer now directly owns 166,879 shares of the company's stock, valued at approximately $2,843,618.16. The disclosure for this sale can be found here. Insiders sold 5,848,537 shares of company stock valued at $91,938,722 over the last 90 days. Company insiders own 26.55% of the company's stock.

Analysts Set New Price Targets

WRBY has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on shares of Warby Parker from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Friday, May 10th. Telsey Advisory Group reiterated an "outperform" rating and issued a $19.00 target price on shares of Warby Parker in a research note on Thursday, August 8th. Stifel Nicolaus raised their price target on shares of Warby Parker from $14.00 to $15.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Piper Sandler began coverage on Warby Parker in a research report on Friday, August 23rd. They issued an "overweight" rating and a $18.00 price objective on the stock. Finally, UBS Group lifted their target price on Warby Parker from $13.00 to $15.00 and gave the stock a "neutral" rating in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Warby Parker has an average rating of "Moderate Buy" and a consensus target price of $17.11.

About Warby Parker

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.