Compass Wealth Management LLC Acquires New Position in Warby Parker Inc. $WRBY

Compass Wealth Management LLC acquired a new stake in shares of Warby Parker Inc. (NYSE:WRBY) in the 3rd quarter, HoldingsChannel reports. The firm acquired 79,193 shares of the company’s stock, valued at approximately $2,184,000.

Other large investors have also recently modified their holdings of the company. King Luther Capital Management Corp increased its stake in shares of Warby Parker by 20.6% in the 3rd quarter. King Luther Capital Management Corp now owns 285,263 shares of the company’s stock valued at $7,868,000 after purchasing an additional 48,640 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Warby Parker during the third quarter worth about $1,323,000. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 327,830 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Warby Parker by 40.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock valued at $201,426,000 after purchasing an additional 2,120,768 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Warby Parker during the 3rd quarter valued at approximately $2,250,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Insider Activity at Warby Parker

In related news, Director Youngme E. Moon sold 38,832 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $29.07, for a total value of $1,128,846.24. Following the transaction, the director owned 27,057 shares in the company, valued at $786,546.99. The trade was a 58.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 150,000 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total value of $3,763,500.00. Following the sale, the chief executive officer owned 37,119 shares of the company’s stock, valued at approximately $931,315.71. The trade was a 80.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 359,424 shares of company stock worth $9,813,571 over the last quarter. Company insiders own 18.24% of the company’s stock.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $23.30 on Friday. The company’s 50 day moving average price is $25.46 and its 200-day moving average price is $24.06. Warby Parker Inc. has a 52-week low of $13.63 and a 52-week high of $31.00. The company has a market capitalization of $2.46 billion, a P/E ratio of 2,330.00 and a beta of 2.05.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird set a $35.00 price objective on shares of Warby Parker in a research note on Wednesday, December 17th. Piper Sandler upped their price target on shares of Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Stifel Nicolaus raised their price objective on Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a report on Friday, December 12th. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research report on Wednesday, December 10th. Finally, BTIG Research upped their target price on Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.83.

Warby Parker Profile

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.