Algert Global LLC Sells 55,942 Shares of Warby Parker Inc. (NYSE:WRBY)

Algert Global LLC lessened its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 40.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,604 shares of the company's stock after selling 55,942 shares during the quarter. Algert Global LLC owned 0.08% of Warby Parker worth $2,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WRBY. Global Retirement Partners LLC purchased a new position in Warby Parker in the 4th quarter worth $25,000. NewEdge Advisors LLC lifted its stake in shares of Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock valued at $29,000 after acquiring an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Warby Parker by 205.6% during the 4th 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. Comerica Bank grew its position in Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock worth $55,000 after acquiring an additional 1,386 shares during the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in Warby Parker in the 4th quarter worth approximately $69,000. Institutional investors own 93.24% of the company's stock.

Warby Parker Trading Down 4.8 %

WRBY traded down $0.79 during trading on Friday, reaching $15.83. The stock had a trading volume of 2,865,049 shares, compared to its average volume of 1,798,717. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -58.63 and a beta of 2.01. The stock's 50 day moving average is $17.30 and its two-hundred day moving average is $21.56. Warby Parker Inc. has a one year low of $12.46 and a one year high of $28.68.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Evercore ISI reissued an "in-line" rating and set a $23.00 price objective on shares of Warby Parker in a research note on Friday, January 17th. Telsey Advisory Group dropped their price target on shares of Warby Parker from $30.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday. Roth Mkm assumed coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They issued a "neutral" rating and a $26.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday. Finally, Stifel Nicolaus cut their target price on Warby Parker from $25.00 to $18.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.21.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 11,684 shares of the firm'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 transaction of $274,807.68. Following the completion of the transaction, the chief financial officer now owns 204,727 shares of the company's stock, valued at $4,815,179.04. This trade represents a 5.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $657,783.84. Following the completion of the sale, the chief executive officer now directly owns 23,961 shares in the company, valued at $563,562.72. This trade represents a 53.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.55% of the stock is owned by company insiders.

Warby Parker Company 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.