Warby Parker Inc. $WRBY Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its position in shares of Warby Parker Inc. (NYSE:WRBY) by 30.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,680 shares of the company’s stock after acquiring an additional 39,690 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.16% of Warby Parker worth $3,719,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in WRBY. JPMorgan Chase & Co. raised its position in shares of Warby Parker by 40.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock valued at $201,426,000 after acquiring an additional 2,120,768 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after acquiring an additional 929,073 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Warby Parker during the 3rd quarter valued at approximately $19,993,000. Kingdon Capital Management L.L.C. acquired a new stake in shares of Warby Parker during the 3rd quarter valued at approximately $9,653,000. Finally, Jump Financial LLC raised its position in shares of Warby Parker by 1,118.2% during the 3rd quarter. Jump Financial LLC now owns 370,409 shares of the company’s stock valued at $10,216,000 after acquiring an additional 340,002 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Bradley E. Singer sold 15,793 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total transaction of $434,781.29. Following the completion of the transaction, the director directly owned 16,026 shares in the company, valued at $441,195.78. This represents a 49.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 75,213 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $24.56, for a total value of $1,847,231.28. Following the transaction, the chief executive officer owned 50,165 shares of the company’s stock, valued at approximately $1,232,052.40. The trade was a 59.99% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 115,793 shares of company stock valued at $2,901,550. 18.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WRBY. Weiss Ratings lowered Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, March 2nd. Telsey Advisory Group reissued an “outperform” rating and set a $32.00 price target on shares of Warby Parker in a research report on Friday, February 20th. UBS Group restated a “neutral” rating and set a $20.00 price objective on shares of Warby Parker in a research note on Wednesday, February 25th. Finally, Citigroup upped their price objective on Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.09.

Warby Parker Price Performance

Shares of WRBY opened at $23.13 on Friday. The company has a market cap of $2.48 billion, a P/E ratio of 1,157.18 and a beta of 1.96. The stock has a fifty day moving average price of $23.25 and a 200 day moving average price of $23.04. Warby Parker Inc. has a 12 month low of $14.96 and a 12 month high of $31.00.

Warby Parker 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.