Invenomic Capital Management LP Decreases Position in Warby Parker Inc. (NYSE:WRBY)

Invenomic Capital Management LP lessened its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 57.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 164,946 shares of the company's stock after selling 218,931 shares during the quarter. Invenomic Capital Management LP owned 0.16% of Warby Parker worth $3,993,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Gotham Asset Management LLC bought a new position in Warby Parker in the fourth quarter worth approximately $331,000. Deutsche Bank AG grew its position in shares of Warby Parker by 155.7% during the 4th quarter. Deutsche Bank AG now owns 441,536 shares of the company's stock valued at $10,690,000 after acquiring an additional 268,875 shares during the period. D. E. Shaw & Co. Inc. grew its position in shares of Warby Parker by 12.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,809,294 shares of the company's stock valued at $43,803,000 after acquiring an additional 199,235 shares during the period. Dimension Capital Management LLC bought a new stake in shares of Warby Parker during the 4th quarter valued at $231,000. Finally, Driehaus Capital Management LLC grew its position in shares of Warby Parker by 18.7% during the 4th quarter. Driehaus Capital Management LLC now owns 964,441 shares of the company's stock valued at $23,349,000 after acquiring an additional 151,871 shares during the period. Hedge funds and other institutional investors own 93.24% of the company's stock.

Warby Parker Trading Up 0.6%

Shares of WRBY traded up $0.10 during trading hours on Thursday, reaching $17.58. 2,027,381 shares of the stock traded hands, compared to its average volume of 1,814,407. The company has a market cap of $1.84 billion, a P/E ratio of -65.11 and a beta of 2.01. The company's 50-day moving average price is $17.08 and its two-hundred day moving average price is $21.52. Warby Parker Inc. has a 52-week low of $12.46 and a 52-week high of $28.68.

Analysts Set New Price Targets

WRBY has been the subject of a number of recent research reports. Roth Mkm initiated coverage on shares of Warby Parker in a research report on Tuesday, February 25th. They set a "neutral" rating and a $26.00 price objective for the company. Roth Capital raised shares of Warby Parker to a "strong-buy" rating in a research report on Monday, February 24th. Citigroup raised shares of Warby Parker from a "sell" rating to a "neutral" rating and cut their price objective for the company from $23.00 to $17.00 in a research report on Wednesday, April 30th. Stifel Nicolaus cut their price objective on shares of Warby Parker from $25.00 to $18.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, Loop Capital raised shares of Warby Parker from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Thursday, April 17th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.00.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 27,967 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $657,783.84. Following the completion of the transaction, the chief executive officer now directly owns 23,961 shares in the company, valued at approximately $563,562.72. This represents a 53.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 11,684 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the sale, the chief financial officer now owns 204,727 shares in the company, valued at $4,815,179.04. This represents a 5.40% decrease in their position. The disclosure for this sale can be found here. 26.55% of the stock is currently 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.