Legato Capital Management LLC Makes New $1.32 Million Investment in Warby Parker Inc. (NYSE:WRBY)

Legato Capital Management LLC purchased a new stake in Warby Parker Inc. (NYSE:WRBY) in the fourth quarter, HoldingsChannel reports. The firm purchased 54,360 shares of the company’s stock, valued at approximately $1,316,000.

A number of other hedge funds have also modified their holdings of the company. KBC Group NV increased 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 purchasing an additional 1,339 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Warby Parker in the 2nd quarter valued at $186,000. Thrivent Financial for Lutherans bought a new stake in shares of Warby Parker in the 3rd quarter valued at $213,000. Shaker Investments LLC OH acquired a new stake in Warby Parker during the 4th quarter worth $279,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Warby Parker during the 3rd quarter worth $318,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $275,321.97. This represents a 74.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the transaction, the chief financial officer now owns 182,130 shares in the company, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 608,032 shares of company stock worth $15,188,364 in the last quarter. Corporate insiders own 26.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WRBY shares. JMP Securities increased their price target on Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Morgan Stanley boosted their price objective on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Telsey Advisory Group raised their target price on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Piper Sandler upped their price target 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. Finally, Stifel Nicolaus raised their price objective on shares of Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.77.

Warby Parker Trading Up 1.4 %

Shares of WRBY stock opened at $26.17 on Thursday. The firm’s fifty day moving average price is $25.41 and its two-hundred day moving average price is $19.84. Warby Parker Inc. has a 1 year low of $11.35 and a 1 year high of $28.68.

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.