PDT Partners LLC Has $2.81 Million Stock Position 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 raised its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 256.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,036 shares of the company's stock after acquiring an additional 110,789 shares during the quarter. PDT Partners LLC owned 0.15% of Warby Parker worth $2,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of WRBY. Mariner LLC lifted its stake in Warby Parker by 6.5% during the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock valued at $261,000 after buying an additional 660 shares in the last quarter. NewEdge Advisors LLC lifted its position 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 purchasing an additional 1,050 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 in the last quarter. Price T Rowe Associates Inc. MD lifted 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted 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 in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WRBY. BTIG Research reissued a "buy" rating and issued a $28.00 price target (up from $24.00) on shares of Warby Parker in a research report on Thursday, August 7th. Loop Capital reissued a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Telsey Advisory Group reissued an "outperform" rating and issued a $28.00 price target on shares of Warby Parker in a research report on Thursday, August 7th. Zacks Research raised shares of Warby Parker from a "strong sell" rating to a "hold" rating in a research report on Thursday. Finally, TD Securities increased their price objective on Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.06.

Warby Parker Stock Up 2.6%

WRBY stock traded up $0.67 during midday trading on Friday, hitting $26.02. 1,126,735 shares of the company traded hands, compared to its average volume of 1,411,286. Warby Parker Inc. has a twelve month low of $12.69 and a twelve month high of $29.73. The business has a 50 day simple moving average of $24.40 and a 200-day simple moving average of $20.98. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -371.59 and a beta of 2.10.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total transaction of $1,255,500.00. Following the transaction, the chief executive officer owned 28,347 shares in the company, valued at $711,793.17. This trade represents a 63.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Teresa Briggs sold 6,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $23.56, for a total value of $141,360.00. Following the transaction, 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 have sold 106,000 shares of company stock worth $2,607,280. Corporate insiders own 18.24% of the company's stock.

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.