Warby Parker Inc. (NYSE:WRBY) Stock Position Cut by LVW Advisors LLC

LVW Advisors LLC trimmed its stake in shares of Warby Parker Inc. (NYSE:WRBY) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,336 shares of the company’s stock after selling 691 shares during the quarter. LVW Advisors LLC’s holdings in Warby Parker were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its holdings in Warby Parker by 3.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after purchasing an additional 78,295 shares in the last quarter. State Street Corp raised its stake in shares of Warby Parker by 3.2% in the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after buying an additional 69,108 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Warby Parker by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after buying an additional 144,623 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Warby Parker by 13.6% in the third quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock valued at $31,666,000 after buying an additional 232,530 shares during the period. Finally, TimesSquare Capital Management LLC boosted its stake in Warby Parker by 12.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after buying an additional 211,050 shares in the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Price Performance

NYSE:WRBY opened at $24.57 on Tuesday. The stock has a market cap of $2.50 billion, a PE ratio of -90.98 and a beta of 1.88. Warby Parker Inc. has a fifty-two week low of $11.35 and a fifty-two week high of $27.10. The stock’s 50-day moving average is $24.11 and its two-hundred day moving average is $18.63.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WRBY shares. Piper Sandler boosted their price target on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the company from $15.00 to $18.00 in a research note on Monday, October 21st. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price objective on Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, BTIG Research lifted their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.92.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 14,853 shares of Warby Parker stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the sale, the chief financial officer now owns 189,146 shares of the company’s stock, valued at approximately $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $817,645.43. Following the completion of the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $275,321.97. This trade represents a 74.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 558,032 shares of company stock worth $13,807,864. 26.55% of the stock is owned by company insiders.

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.