State of Alaska Department of Revenue Purchases 27,479 Shares of Warby Parker Inc. $WRBY

State of Alaska Department of Revenue grew its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 484.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,154 shares of the company’s stock after acquiring an additional 27,479 shares during the period. State of Alaska Department of Revenue’s holdings in Warby Parker were worth $722,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in shares of Warby Parker by 259.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after purchasing an additional 861 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after purchasing an additional 850 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Warby Parker in the third quarter valued at approximately $112,000. State of Wyoming acquired a new position in Warby Parker in the third quarter valued at approximately $135,000. Finally, State of Tennessee Department of Treasury bought a new position in shares of Warby Parker during the 2nd quarter worth approximately $126,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Price Performance

WRBY opened at $22.46 on Friday. Warby Parker Inc. has a fifty-two week low of $14.77 and a fifty-two week high of $31.00. The firm has a market capitalization of $2.40 billion, a PE ratio of 1,123.76 and a beta of 2.07. The company’s 50-day moving average is $23.27 and its 200 day moving average is $23.09.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Warby Parker in a research report on Wednesday, February 25th. Citigroup increased their target price on shares of Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Weiss Ratings cut shares of Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $32.00 price objective on shares of Warby Parker in a research report on Friday, February 20th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.09.

Insider Buying and Selling

In other 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 value of $434,781.29. Following the completion of the sale, the director directly owned 16,026 shares of the company’s stock, valued at $441,195.78. This represents a 49.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 22,442 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $25.09, for a total value of $563,069.78. Following the completion of the transaction, the chief executive officer owned 50,165 shares in the company, valued at $1,258,639.85. This represents a 30.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 115,793 shares of company stock valued at $2,901,550 over the last three months. Corporate insiders own 18.24% of the company’s stock.

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.