Warby Parker Inc. $WRBY Stock Position Lowered by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. cut its position in Warby Parker by 49.6% in Q4, selling 226,734 shares and retaining 230,057 shares (~0.22% of the company) worth about $5.01 million.
• Director Bradley E. Singer sold 15,793 shares on March 4 at an average price of $27.53, trimming his stake by roughly 49.6%; insiders now own 18.24% of the company.
• Analysts are mixed but generally positive: the consensus rating is "Moderate Buy" with a $28 average price target, while the stock trades near $23 and the company has a ~$2.47 billion market cap.

Baillie Gifford & Co. lessened its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 49.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 230,057 shares of the company's stock after selling 226,734 shares during the quarter. Baillie Gifford & Co. owned approximately 0.22% of Warby Parker worth $5,013,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Udine Wealth Management Inc. purchased a new stake in shares of Warby Parker in the 4th quarter valued at approximately $1,284,000. FNY Investment Advisers LLC purchased a new stake in shares of Warby Parker in the 4th quarter valued at approximately $900,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of Warby Parker by 6.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 13,435 shares of the company's stock valued at $293,000 after acquiring an additional 845 shares in the last quarter. Game Plan Financial Advisors LLC purchased a new stake in Warby Parker in the 4th quarter worth approximately $163,000. Finally, Diversified Trust Co. lifted its position in Warby Parker by 31.4% in the 4th quarter. Diversified Trust Co. now owns 22,098 shares of the company's stock worth $482,000 after buying an additional 5,275 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Insider Transactions at Warby Parker

In related news, Director Bradley E. Singer sold 15,793 shares of the firm's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total value of $434,781.29. Following the transaction, the director directly owned 16,026 shares in the company, valued at approximately $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. Insiders own 18.24% of the company's stock.

Warby Parker Trading Up 8.7%

Warby Parker stock opened at $23.13 on Wednesday. The company has a market capitalization of $2.47 billion, a P/E ratio of 1,157.08 and a beta of 2.07. The firm's fifty day simple moving average is $23.20 and its 200-day simple moving average is $23.18. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WRBY shares. Piper Sandler increased their target price on shares of Warby Parker from $22.00 to $32.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 16th. UBS Group reiterated a "neutral" rating and issued a $20.00 target price on shares of Warby Parker in a research report on Wednesday, February 25th. Telsey Advisory Group reiterated an "outperform" rating and issued a $32.00 target price on shares of Warby Parker in a research report on Friday, February 20th. Weiss Ratings downgraded shares of Warby Parker from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, March 2nd. Finally, Robert W. Baird set a $35.00 target price on shares of Warby Parker in a research report on Wednesday, December 17th. Ten 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.00.

Warby Parker Company 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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