40,306 Shares in Warby Parker Inc. $WRBY Bought by Maridea Wealth Management LLC

Maridea Wealth Management LLC purchased a new stake in Warby Parker Inc. (NYSE:WRBY) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 40,306 shares of the company’s stock, valued at approximately $878,000.

Several other hedge funds also recently added to or reduced their stakes in WRBY. JPMorgan Chase & Co. lifted its stake in shares of Warby Parker by 987.8% during the second quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company’s stock worth $113,654,000 after purchasing an additional 4,706,148 shares in the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of Warby Parker in the second quarter valued at about $22,198,000. Goldman Sachs Group Inc. grew its stake in shares of Warby Parker by 96.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after buying an additional 929,073 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Warby Parker during the 3rd quarter valued at about $19,993,000. Finally, Kingdon Capital Management L.L.C. purchased a new stake in shares of Warby Parker during the 3rd quarter valued at about $9,653,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Warby Parker news, Director Bradley E. Singer sold 15,793 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total transaction of $434,781.29. Following the transaction, the director owned 16,026 shares of the company’s stock, valued at $441,195.78. This trade represents a 49.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total value of $1,354,000.00. Following the completion of the transaction, the chief executive officer owned 37,119 shares of the company’s stock, valued at approximately $1,005,182.52. The trade was a 57.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 216,453 shares of company stock valued at $5,572,075. 18.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WRBY. Weiss Ratings cut Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Piper Sandler lifted their price objective on shares of Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Citigroup boosted their target price on shares of Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Stifel Nicolaus upped their target price on shares of Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, December 12th. Finally, UBS Group reaffirmed a “neutral” rating and set a $20.00 price target on shares of Warby Parker in a report on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Warby Parker Stock Performance

Shares of Warby Parker stock opened at $22.68 on Monday. Warby Parker Inc. has a 1 year low of $13.63 and a 1 year high of $31.00. The firm’s 50-day simple moving average is $25.07 and its 200-day simple moving average is $23.86. The firm has a market cap of $2.42 billion, a PE ratio of 1,134.72 and a beta of 2.05.

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.