Primoris Wealth Advisors LLC Acquires Shares of 81,750 Warby Parker Inc. $WRBY

Primoris Wealth Advisors LLC acquired a new stake in shares of Warby Parker Inc. (NYSE:WRBY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 81,750 shares of the company’s stock, valued at approximately $1,781,000. Primoris Wealth Advisors LLC owned approximately 0.08% of Warby Parker at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in Warby Parker by 259.3% during the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after buying an additional 861 shares in the last quarter. First Horizon Corp lifted its stake in Warby Parker by 96.7% during the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after buying an additional 595 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Warby Parker during the fourth quarter valued at about $35,000. NewEdge Advisors LLC lifted its stake in Warby Parker by 56.7% during the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock valued at $65,000 after buying an additional 850 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Warby Parker during the third quarter valued at about $112,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WRBY has been the subject of a number of analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Warby Parker in a research note on Friday, February 20th. Citigroup upped their target price on Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Weiss Ratings downgraded Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Finally, 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. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.09.

Warby Parker Stock Performance

Shares of WRBY opened at $21.94 on Tuesday. The company’s 50 day moving average price is $23.25 and its 200 day moving average price is $23.05. Warby Parker Inc. has a 52 week low of $14.96 and a 52 week high of $31.00. The company has a market capitalization of $2.35 billion, a PE ratio of 1,097.35 and a beta of 1.95.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 75,213 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $24.56, for a total transaction of $1,847,231.28. Following the transaction, the chief executive officer owned 50,165 shares in the company, valued at $1,232,052.40. This represents a 59.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 15,793 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total transaction of $434,781.29. Following the transaction, the director owned 16,026 shares in the company, valued at $441,195.78. This represents a 49.63% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 115,793 shares of company stock worth $2,901,550. Insiders own 18.24% of the company’s stock.

About Warby Parker

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.