Tudor Investment Corp ET AL Sells 231,265 Shares of Warby Parker Inc. $WRBY

Key Points

• Tudor Investment Corp cut its stake in Warby Parker by 48.6%, selling 231,265 shares in Q3 and now holds 244,650 shares worth about $6.75 million (0.23% of the company).
• Company insiders have been active sellers recently — including the CEO's sale of 150,000 shares and a director's 15,793-share sale — totaling 216,453 shares (~$5.57 million) sold in the last 90 days; insiders still own 18.24%.
• Analyst sentiment is cautiously positive with an average rating of "Moderate Buy" and a mean target of $28; WRBY trades around $24.29 with a market cap of $2.59 billion and a 52-week range of $13.63–$31.00.

Tudor Investment Corp ET AL lowered its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 48.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 244,650 shares of the company's stock after selling 231,265 shares during the quarter. Tudor Investment Corp ET AL owned 0.23% of Warby Parker worth $6,747,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WRBY. AQR Capital Management LLC increased its stake in shares of Warby Parker by 101.0% in the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company's stock worth $3,122,000 after purchasing an additional 86,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company's stock valued at $961,000 after buying an additional 2,297 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company's stock valued at $34,433,000 after buying an additional 929,073 shares in the last quarter. Caxton Associates LLP bought a new position in Warby Parker in the 1st quarter worth $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Warby Parker by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company's stock worth $4,685,000 after buying an additional 38,395 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WRBY has been the topic of a number of recent analyst reports. Citizens Jmp raised Warby Parker from a "market perform" rating to an "outperform" rating and set a $30.00 price target on the stock in a report on Wednesday, December 10th. BTIG Research upped their price objective on Warby Parker from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, December 11th. UBS Group reissued a "neutral" rating and set a $20.00 target price on shares of Warby Parker in a research note on Wednesday, February 25th. Stifel Nicolaus boosted their price target on Warby Parker from $19.00 to $25.00 and gave the stock a "hold" rating in a report on Friday, December 12th. Finally, Citigroup upped their price target on Warby Parker from $18.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 17th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Warby Parker presently has an average rating of "Moderate Buy" and an average target price of $28.00.

Warby Parker Stock Up 7.1%

Shares of Warby Parker stock opened at $24.29 on Tuesday. Warby Parker Inc. has a twelve month low of $13.63 and a twelve month high of $31.00. The business has a 50-day moving average price of $25.03 and a 200-day moving average price of $23.86. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 1,215.16 and a beta of 2.05.

Insider Activity at Warby Parker

In other Warby Parker news, Director Bradley E. Singer sold 15,793 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total transaction of $434,781.29. Following the completion of the transaction, the director owned 16,026 shares in the company, valued at $441,195.78. This trade represents a 49.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total value of $3,763,500.00. Following the completion of the sale, the chief executive officer directly owned 37,119 shares in the company, valued at approximately $931,315.71. The trade was a 80.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 216,453 shares of company stock valued at $5,572,075 in the last 90 days. 18.24% of the stock is currently owned by company insiders.

Warby Parker Profile

Warby Parker, Inc NYSE: WRBY is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.

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