Proficio Capital Partners LLC Makes New Investment in Warby Parker Inc. (NYSE:WRBY)

Proficio Capital Partners LLC bought a new stake in Warby Parker Inc. (NYSE:WRBY) in the 4th quarter, Holdings Channel reports. The institutional investor bought 11,282 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in Warby Parker by 3.2% in the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after buying an additional 69,108 shares in the last quarter. Blueshift Asset Management LLC bought a new position in shares of Warby Parker in the third quarter worth about $1,223,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Warby Parker by 193.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,620 shares of the company’s stock valued at $1,463,000 after purchasing an additional 59,121 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Warby Parker in the 3rd quarter valued at approximately $495,000. Finally, Verition Fund Management LLC bought a new stake in shares of Warby Parker during the 3rd quarter valued at approximately $7,462,000. Institutional investors own 93.24% of the company’s stock.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker 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 completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $336,206.97. The trade was a 80.42 % 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, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now owns 204,727 shares in the company, valued at $4,815,179.04. The trade was a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 389,651 shares of company stock worth $9,855,092 over the last quarter. Company insiders own 26.55% of the company’s stock.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $19.45 on Thursday. Warby Parker Inc. has a 52-week low of $11.66 and a 52-week high of $28.68. The company’s 50 day moving average price is $23.87 and its 200-day moving average price is $21.47. The company has a market capitalization of $2.01 billion, a P/E ratio of -72.02 and a beta of 1.91.

Analysts Set New Price Targets

A number of brokerages have weighed in on WRBY. Citigroup restated an “outperform” rating on shares of Warby Parker in a research report on Friday, February 28th. Roth Mkm started coverage on Warby Parker in a report on Tuesday, February 25th. They set a “neutral” rating and a $26.00 price objective on the stock. The Goldman Sachs Group upped their target price on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Robert W. Baird lifted their price target on Warby Parker from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, JMP Securities upped their price objective on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.43.

Warby Parker Company Profile

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.