PDT Partners LLC Increases Holdings in Warby Parker Inc. $WRBY

Key Points

• PDT Partners LLC increased its position in Warby Parker by 256.2%, purchasing 110,789 shares to hold a total of 154,036 shares, valued at approximately $2.8 million.
• Insider transactions include CEO Neil Harris Blumenthal selling 50,000 shares at an average price of $25.11, reducing his position by 63.82%.
• Warby Parker currently has a market cap of $2.75 billion with an average analyst rating of "Moderate Buy" and a consensus target price of $24.06.

PDT Partners LLC lifted its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 256.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,036 shares of the company's stock after buying an additional 110,789 shares during the quarter. PDT Partners LLC owned approximately 0.15% of Warby Parker worth $2,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WRBY. Mariner LLC lifted its holdings in shares of Warby Parker by 6.5% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock worth $261,000 after buying an additional 660 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Warby Parker by 700.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after buying an additional 1,050 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Warby Parker by 5.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,495,189 shares of the company's stock worth $36,199,000 after purchasing an additional 74,996 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Warby Parker by 21.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 53,421 shares of the company's stock worth $1,294,000 after purchasing an additional 9,367 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Warby Parker by 7.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 48,564 shares of the company's stock worth $1,176,000 after purchasing an additional 3,571 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $25.11, for a total value of $1,255,500.00. Following the sale, the chief executive officer owned 28,347 shares in the company, valued at $711,793.17. The trade was a 63.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa Briggs sold 6,000 shares of Warby Parker stock in a transaction on Monday, August 11th. The shares were sold at an average price of $23.56, for a total transaction of $141,360.00. Following the completion of the sale, the director owned 44,879 shares in the company, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,000 shares of company stock worth $2,607,280. 18.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WRBY has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Warby Parker from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. TD Securities upped their price objective on shares of Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Evercore ISI restated a "positive" rating on shares of Warby Parker in a research report on Thursday, August 7th. Roth Capital set a $24.00 price objective on shares of Warby Parker and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Piper Sandler restated an "overweight" rating and issued a $25.00 price objective (up from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.06.

Warby Parker Price Performance

NYSE:WRBY traded up $0.67 during trading hours on Friday, hitting $26.02. The company had a trading volume of 1,126,735 shares, compared to its average volume of 2,176,755. The company has a market capitalization of $2.74 billion, a PE ratio of -371.59 and a beta of 2.10. The stock has a 50-day moving average price of $24.32 and a 200 day moving average price of $21.04. Warby Parker Inc. has a 52 week low of $12.69 and a 52 week high of $29.73.

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.