Baillie Gifford & Co. Cuts Stock Holdings in Warby Parker Inc. (NYSE:WRBY)

Baillie Gifford & Co. lessened its holdings in Warby Parker Inc. (NYSE:WRBY) by 63.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,235,169 shares of the company’s stock after selling 3,840,821 shares during the quarter. Baillie Gifford & Co. owned 2.25% of Warby Parker worth $35,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Panagora Asset Management Inc. grew its holdings in Warby Parker by 0.4% during the fourth quarter. Panagora Asset Management Inc. now owns 198,671 shares of the company’s stock worth $2,801,000 after acquiring an additional 847 shares during the period. Jacobson & Schmitt Advisors LLC grew its position in Warby Parker by 0.3% during the first quarter. Jacobson & Schmitt Advisors LLC now owns 408,105 shares of the company’s stock worth $5,554,000 after buying an additional 1,397 shares during the period. ProShare Advisors LLC increased its holdings in Warby Parker by 10.2% in the first quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock valued at $211,000 after buying an additional 1,434 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Warby Parker by 12.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,520 shares of the company’s stock valued at $247,000 after buying an additional 1,974 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after acquiring an additional 2,276 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 15,709 shares of Warby Parker stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $17.04, for a total value of $267,681.36. Following the completion of the sale, the chief financial officer now owns 166,879 shares of the company’s stock, valued at $2,843,618.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Steven Clive Miller sold 15,709 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total value of $267,681.36. Following the sale, the chief financial officer now directly owns 166,879 shares of the company’s stock, valued at $2,843,618.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Abraham Gilboa sold 149,034 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $16.69, for a total transaction of $2,487,377.46. Following the transaction, the chief executive officer now directly owns 12,306 shares of the company’s stock, valued at approximately $205,387.14. The disclosure for this sale can be found here. In the last three months, insiders sold 5,848,537 shares of company stock worth $91,938,722. Insiders own 26.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. UBS Group raised their price objective on Warby Parker from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Morgan Stanley lifted their price target on Warby Parker from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research report on Thursday, August 8th. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Friday. Finally, Loop Capital upped their price target on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and a consensus target price of $17.11.

Warby Parker Stock Up 11.9 %

Shares of WRBY traded up $1.65 on Friday, hitting $15.51. 5,437,694 shares of the stock traded hands, compared to its average volume of 1,681,793. The firm has a market capitalization of $1.56 billion, a P/E ratio of -33.00 and a beta of 1.82. Warby Parker Inc. has a 1 year low of $9.83 and a 1 year high of $17.95. The stock’s 50 day moving average is $15.37 and its two-hundred day moving average is $14.50.

About Warby Parker

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.