Udine Wealth Management Inc. Makes New $1.28 Million Investment in Warby Parker Inc. $WRBY

Udine Wealth Management Inc. purchased a new stake in shares of Warby Parker Inc. (NYSE:WRBY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 58,946 shares of the company’s stock, valued at approximately $1,284,000.

Several other large investors also recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after acquiring an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Warby Parker by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after acquiring an additional 2,297 shares during the period. 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 worth $34,433,000 after acquiring an additional 929,073 shares during the period. Caxton Associates LLP purchased a new position in shares of Warby Parker during the first quarter valued at approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Warby Parker by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after purchasing an additional 38,395 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Insider Activity at Warby Parker

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 shares were sold at an average price of $27.53, for a total value of $434,781.29. Following the transaction, the director directly owned 16,026 shares in the company, valued at approximately $441,195.78. This trade represents a 49.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the transaction, the chief executive officer owned 37,119 shares in the company, valued at $931,315.71. This represents a 80.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 216,453 shares of company stock worth $5,572,075 over the last quarter. Insiders own 18.24% of the company’s stock.

Warby Parker Trading Down 5.0%

WRBY opened at $20.33 on Friday. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 1,017.06 and a beta of 2.07. The company’s 50 day moving average is $24.01 and its 200 day moving average is $23.60. Warby Parker Inc. has a 12-month low of $13.63 and a 12-month high of $31.00.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird set a $35.00 target price on shares of Warby Parker in a report on Wednesday, December 17th. Citigroup boosted their target price on shares of Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Weiss Ratings cut Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Stifel Nicolaus raised their price target on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, December 12th. Finally, Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Warby Parker has an average rating of “Moderate Buy” and an average target price of $28.00.

Warby Parker Company 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.