Alberta Investment Management Corp Increases Stake in Warby Parker Inc. (NYSE:WRBY)

Alberta Investment Management Corp raised its position in shares of Warby Parker Inc. (NYSE:WRBY) by 71.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 166,918 shares of the company’s stock after buying an additional 69,501 shares during the quarter. Alberta Investment Management Corp’s holdings in Warby Parker were worth $4,041,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WRBY. Global Retirement Partners LLC bought a new stake in Warby Parker in the fourth quarter worth $25,000. KBC Group NV raised its position in shares of Warby Parker by 39.3% in the 4th quarter. KBC Group NV now owns 4,743 shares of the company’s stock worth $115,000 after purchasing an additional 1,339 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Warby Parker in the 3rd quarter worth about $213,000. Shaker Investments LLC OH purchased a new stake in Warby Parker during the 4th quarter valued at about $279,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Warby Parker during the 3rd quarter valued at about $318,000. Institutional investors own 93.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WRBY. Evercore ISI reiterated an “in-line” rating and issued a $23.00 target price on shares of Warby Parker in a research note on Friday, January 17th. Morgan Stanley upped their price objective on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. BTIG Research increased their target price on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Robert W. Baird boosted their price target on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group upped their price target on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.92.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $25.33 on Friday. The firm’s 50 day simple moving average is $25.66 and its two-hundred day simple moving average is $20.22. The company has a market capitalization of $2.57 billion, a P/E ratio of -93.80 and a beta of 1.90. Warby Parker Inc. has a 1-year low of $11.35 and a 1-year high of $28.68.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of Warby Parker stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the sale, the chief financial officer now owns 189,146 shares of the company’s stock, valued at $4,276,591.06. The trade was a 7.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total value of $1,380,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $336,206.97. This trade represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 608,032 shares of company stock worth $15,188,364. 26.55% of the stock is owned by corporate insiders.

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.