Wells Fargo & Company MN Purchases 32,315 Shares of Warby Parker Inc. (NYSE:WRBY)

Wells Fargo & Company MN increased its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 103.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,575 shares of the company's stock after purchasing an additional 32,315 shares during the quarter. Wells Fargo & Company MN owned 0.06% of Warby Parker worth $1,539,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. American Century Companies Inc. boosted its holdings in Warby Parker by 64.7% in the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock valued at $51,916,000 after purchasing an additional 842,558 shares during the period. Great Lakes Advisors LLC acquired a new position in Warby Parker in the 4th quarter valued at approximately $14,596,000. Raymond James Financial Inc. acquired a new position in Warby Parker in the 4th quarter valued at approximately $8,272,000. First Eagle Investment Management LLC increased its position in Warby Parker by 792.7% in the 4th quarter. First Eagle Investment Management LLC now owns 312,258 shares of the company's stock valued at $7,560,000 after acquiring an additional 277,278 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Warby Parker by 19.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,632,341 shares of the company's stock worth $39,519,000 after buying an additional 268,025 shares during the period. 93.24% of the stock is owned by institutional investors.

Insider Activity

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

Warby Parker Price Performance

WRBY traded down $0.15 on Thursday, hitting $16.36. The company had a trading volume of 680,072 shares, compared to its average volume of 1,762,535. Warby Parker Inc. has a 52-week low of $11.66 and a 52-week high of $28.68. The stock has a fifty day simple moving average of $18.32 and a 200-day simple moving average of $21.50. The firm has a market capitalization of $1.70 billion, a P/E ratio of -60.60 and a beta of 2.00.

Analysts Set New Price Targets

Several research analysts recently issued reports on WRBY shares. Roth Capital raised shares of Warby Parker to a "strong-buy" rating in a research note on Monday, February 24th. Evercore ISI reissued an "in-line" rating and issued a $23.00 price objective on shares of Warby Parker in a research note on Friday, January 17th. JMP Securities reduced their target price on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. Morgan Stanley upped their target price on Warby Parker from $17.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Finally, Stifel Nicolaus reduced their price objective on Warby Parker from $25.00 to $18.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.64.

Warby Parker Company 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.