Impax Asset Management Group plc Acquires 85,000 Shares of Warby Parker Inc. $WRBY

Impax Asset Management Group plc lifted its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 28.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,000 shares of the company’s stock after buying an additional 85,000 shares during the quarter. Impax Asset Management Group plc’s holdings in Warby Parker were worth $10,618,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Farther Finance Advisors LLC lifted its position in shares of Warby Parker by 259.3% during the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after acquiring an additional 861 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Warby Parker by 400.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after purchasing an additional 1,281 shares during the period. Huntington National Bank lifted its holdings in Warby Parker by 111.0% during the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after purchasing an additional 881 shares in the last quarter. State of Tennessee Department of Treasury bought a new position in Warby Parker in the 2nd quarter worth about $126,000. Finally, Headlands Technologies LLC boosted its stake in Warby Parker by 981.3% in the 2nd quarter. Headlands Technologies LLC now owns 6,077 shares of the company’s stock worth $133,000 after purchasing an additional 5,515 shares during the period. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Warby Parker Stock Performance

WRBY stock opened at $21.94 on Thursday. The firm has a market cap of $2.32 billion, a P/E ratio of 2,194.10 and a beta of 2.05. The firm’s fifty day moving average is $25.60 and its 200 day moving average is $24.12. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $31.00.

Insiders Place Their Bets

In other Warby Parker news, Director Youngme E. Moon sold 38,832 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the completion of the sale, the director owned 27,057 shares in the company, valued at approximately $786,546.99. The trade was a 58.94% 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, Director Joel E. Cutler sold 19,932 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total transaction of $518,431.32. Following the sale, the director owned 20,000 shares of the company’s stock, valued at $520,200. This represents a 49.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 359,424 shares of company stock valued at $9,813,571 in the last ninety days. Company insiders own 18.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WRBY. Telsey Advisory Group reissued an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warby Parker in a report on Monday, December 29th. Stifel Nicolaus increased their target price on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, December 12th. Citigroup upgraded shares of Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th. Finally, Robert W. Baird set a $35.00 price target on shares of Warby Parker in a report on Wednesday, December 17th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Warby Parker has an average rating of “Moderate Buy” and a consensus target price of $27.38.

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.