Jennison Associates LLC Has $31.67 Million Position in Warby Parker Inc. (NYSE:WRBY)

Jennison Associates LLC boosted its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 13.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,939,116 shares of the company’s stock after buying an additional 232,530 shares during the period. Jennison Associates LLC owned approximately 1.93% of Warby Parker worth $31,666,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WRBY. ProShare Advisors LLC raised its holdings in shares of Warby Parker by 10.2% in the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock worth $211,000 after acquiring an additional 1,434 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Warby Parker by 3.4% in the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock worth $782,000 after purchasing an additional 1,556 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Warby Parker by 79.9% in the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Warby Parker by 11.5% during the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock valued at $413,000 after buying an additional 2,651 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Warby Parker by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock worth $717,000 after acquiring an additional 3,007 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the transaction, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $13.89, for a total value of $694,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $169,138.53. This trade represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,178 shares of company stock valued at $1,339,901. Corporate insiders own 26.55% of the company’s stock.

Warby Parker Stock Performance

NYSE WRBY opened at $23.27 on Friday. Warby Parker Inc. has a 12 month low of $10.28 and a 12 month high of $23.39. The stock has a market cap of $2.37 billion, a PE ratio of -86.19 and a beta of 1.80. The stock’s 50 day moving average is $17.37 and its 200 day moving average is $16.14.

Analyst Ratings Changes

A number of analysts recently commented on WRBY shares. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Friday, August 23rd. Piper Sandler boosted their target price on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group upgraded Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Stifel Nicolaus raised their target price on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Robert W. Baird boosted their price objective on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Warby Parker presently has an average rating of “Moderate Buy” and an average price target of $18.82.

Warby Parker 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.