Warby Parker Inc. $WRBY Shares Sold by Clough Capital Partners L P

Key Points

• Clough Capital Partners L P reduced its holdings in Warby Parker by 58.5% in the first quarter, now owning 29,752 shares valued at $542,000.
• Several institutional investors, including Mariner LLC and NewEdge Advisors LLC, increased their stakes in Warby Parker significantly during the fourth quarter.
• Warby Parker's stock has received multiple price target increases from analysts, with a consensus price target now set at $24.06 and a majority rating it as a "Moderate Buy."

Clough Capital Partners L P reduced its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 58.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 29,752 shares of the company's stock after selling 41,995 shares during the period. Clough Capital Partners L P's holdings in Warby Parker were worth $542,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of WRBY. Mariner LLC grew its position in Warby Parker by 6.5% during the 4th quarter. Mariner LLC now owns 10,772 shares of the company's stock worth $261,000 after purchasing an additional 660 shares during the last quarter. NewEdge Advisors LLC grew its position in Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after purchasing an additional 1,050 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Warby Parker by 5.3% during the 4th 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. MetLife Investment Management LLC grew its position in Warby Parker by 5.0% during the 4th quarter. MetLife Investment Management LLC now owns 53,598 shares of the company's stock worth $1,298,000 after purchasing an additional 2,561 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Warby Parker by 21.3% during the 4th 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. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Stock Performance

WRBY stock traded down $0.08 during trading on Monday, reaching $26.16. 1,012,938 shares of the company were exchanged, compared to its average volume of 1,820,071. The company has a market cap of $2.75 billion, a P/E ratio of -373.72 and a beta of 2.10. Warby Parker Inc. has a 52-week low of $12.69 and a 52-week high of $29.73. The stock's 50 day moving average price is $24.01 and its 200 day moving average price is $20.97.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. 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. TD Securities lifted their target price on shares of Warby Parker from $20.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Evercore ISI reaffirmed a "positive" rating on shares of Warby Parker in a report on Thursday, August 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $25.00 target price (up previously from $20.00) on shares of Warby Parker in a report on Thursday, May 29th. Finally, Cowen reaffirmed a "buy" rating on shares of Warby Parker in a report on Friday, August 8th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.06.

Insider Transactions at Warby Parker

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

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.