Warby Parker Inc. (NYSE:WRBY) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 67.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,368 shares of the company’s stock after selling 761,760 shares during the quarter. Millennium Management LLC owned approximately 0.37% of Warby Parker worth $9,063,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WRBY. Global Retirement Partners LLC purchased a new stake in shares of Warby Parker during the 4th quarter worth approximately $25,000. NewEdge Advisors LLC raised its stake 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 acquiring an additional 1,050 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after acquiring an additional 1,028 shares during the last quarter. Comerica Bank boosted its stake in Warby Parker by 153.1% in the fourth quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Warby Parker during the fourth quarter worth about $69,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Warby Parker news, 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 value 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 approximately $4,815,179.04. The trade was a 5.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker 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 approximately $563,562.72. This represents a 53.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.55% of the company’s stock.

Wall Street Analyst Weigh In

WRBY has been the subject of a number of research analyst reports. Telsey Advisory Group decreased their target price on Warby Parker from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. TD Securities raised their target price on shares of Warby Parker from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. JMP Securities lowered their price objective on shares of Warby Parker from $30.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Monday, April 14th. Roth Mkm started coverage on shares of Warby Parker in a research note on Tuesday, February 25th. They set a “neutral” rating and a $26.00 target price for the company. Finally, Roth Capital restated a “neutral” rating and issued a $21.00 price target (up previously from $18.00) on shares of Warby Parker in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.56.

Warby Parker Trading Down 1.6%

NYSE:WRBY opened at $19.84 on Monday. The firm has a 50-day moving average price of $16.93 and a two-hundred day moving average price of $21.63. The company has a market capitalization of $2.07 billion, a P/E ratio of -73.48 and a beta of 2.01. Warby Parker Inc. has a twelve month low of $12.46 and a twelve month high of $28.68.

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.