Warby Parker Inc. (NYSE:WRBY) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 43.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,247 shares of the company's stock after selling 33,564 shares during the quarter. PDT Partners LLC's holdings in Warby Parker were worth $1,047,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Northern Trust Corp increased its holdings in shares of Warby Parker by 7.5% in the 4th quarter. Northern Trust Corp now owns 811,038 shares of the company's stock worth $19,635,000 after buying an additional 56,674 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Warby Parker by 7.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 48,564 shares of the company's stock worth $1,176,000 after acquiring an additional 3,571 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Warby Parker during the fourth quarter valued at approximately $8,124,000. Symmetry Investments LP purchased a new position in shares of Warby Parker in the 4th quarter worth approximately $8,581,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $1,294,000 after purchasing an additional 9,367 shares during the last quarter. Institutional investors own 93.24% of the company's stock.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,967 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $657,783.84. Following the transaction, the chief executive officer now owns 23,961 shares in the company, valued at approximately $563,562.72. This trade represents a 53.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 11,684 shares of the firm's 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 $274,807.68. Following the completion of the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. This trade represents a 5.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WRBY. Evercore ISI reiterated an "in-line" rating and set a $23.00 price target on shares of Warby Parker in a report on Friday, January 17th. Piper Sandler lowered their price target on Warby Parker from $30.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Roth Mkm began coverage on Warby Parker in a report on Tuesday, February 25th. They issued a "neutral" rating and a $26.00 target price for the company. The Goldman Sachs Group reduced their price objective on shares of Warby Parker from $29.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of Warby Parker in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.64.

Warby Parker Stock Down 2.1 %

Shares of NYSE:WRBY traded down $0.36 during trading on Tuesday, hitting $16.60. 438,653 shares of the stock traded hands, compared to its average volume of 1,775,775. The company has a fifty day moving average price of $17.94 and a two-hundred day moving average price of $21.60. Warby Parker Inc. has a 52-week low of $12.26 and a 52-week high of $28.68. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -61.49 and a beta of 2.01.

About Warby Parker

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.