Castleark Management LLC Invests $4.29 Million in Warby Parker Inc. (NYSE:WRBY)

Castleark Management LLC bought a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 177,350 shares of the company's stock, valued at approximately $4,294,000. Castleark Management LLC owned 0.17% of Warby Parker as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WRBY. Northern Trust Corp grew its stake in shares of Warby Parker by 7.5% in the 4th quarter. Northern Trust Corp now owns 811,038 shares of the company's stock valued at $19,635,000 after purchasing an additional 56,674 shares during the period. Shaker Investments LLC OH acquired a new stake in Warby Parker in the 4th quarter valued at $279,000. Raymond James Financial Inc. bought a new stake in Warby Parker in the fourth quarter valued at $8,272,000. Jones Financial Companies Lllp raised its stake in Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after acquiring an additional 1,028 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Warby Parker by 69.0% during the fourth quarter. Invesco Ltd. now owns 152,934 shares of the company's stock valued at $3,703,000 after acquiring an additional 62,462 shares during the period. Institutional investors and hedge funds own 93.24% of the company's stock.

Warby Parker Stock Down 1.3%

Shares of WRBY opened at $20.08 on Thursday. Warby Parker Inc. has a 12-month low of $12.46 and a 12-month high of $28.68. The firm has a market capitalization of $2.10 billion, a PE ratio of -74.38 and a beta of 2.01. The stock's fifty day simple moving average is $16.90 and its 200-day simple moving average is $21.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WRBY shares. Roth Mkm assumed coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They set a "neutral" rating and a $26.00 target price for the company. JMP Securities decreased their price objective on shares of Warby Parker from $30.00 to $22.00 and set a "market outperform" rating on the stock in a research note on Monday, April 14th. Roth Capital raised shares of Warby Parker to a "strong-buy" rating in a report on Monday, February 24th. Loop Capital raised Warby Parker from a "hold" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Thursday, April 17th. Finally, UBS Group decreased their price target on Warby Parker from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Warby Parker presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.67.

Insiders Place Their Bets

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

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.

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