241,840 Shares in Warby Parker Inc. (NYSE:WRBY) Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC bought a new stake in Warby Parker Inc. (NYSE:WRBY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 241,840 shares of the company’s stock, valued at approximately $5,855,000. Warby Parker accounts for about 1.4% of Lisanti Capital Growth LLC’s portfolio, making the stock its 22nd largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in Warby Parker in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp grew its stake in Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after acquiring an additional 1,028 shares during the period. KBC Group NV grew its stake in Warby Parker by 39.3% in the fourth quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $115,000 after acquiring an additional 1,339 shares during the period. Thrivent Financial for Lutherans acquired a new position in Warby Parker in the third quarter valued at about $213,000. Finally, Atria Investments Inc acquired a new position in Warby Parker in the fourth quarter valued at about $241,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Stock Performance

WRBY opened at $21.61 on Friday. Warby Parker Inc. has a 52-week low of $11.35 and a 52-week high of $28.68. The firm has a market capitalization of $2.24 billion, a PE ratio of -80.02 and a beta of 1.91. The business’s 50-day simple moving average is $25.50 and its 200 day simple moving average is $20.89.

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of research analyst reports. Evercore ISI reissued an “in-line” rating and issued a $23.00 target price on shares of Warby Parker in a research note on Friday, January 17th. Citigroup reaffirmed a “sell” rating and set a $23.00 price objective (up from $19.00) on shares of Warby Parker in a research report on Wednesday, February 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Warby Parker in a research report on Thursday, February 27th. Robert W. Baird upped their price objective on Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, Morgan Stanley upped their price objective on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.43.

Insider Buying and Selling

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the company’s 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 sale, the chief financial officer now owns 204,727 shares in the company, valued at $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $23.65, for a total value of $1,182,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at $287,986.05. This represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 596,667 shares of company stock worth $14,967,484. Corporate insiders own 26.55% of the company’s stock.

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.