Polymer Capital Management US LLC Invests $423,000 in Warby Parker Inc. (NYSE:WRBY)

Polymer Capital Management US LLC bought a new stake in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 17,475 shares of the company's stock, valued at approximately $423,000.

Several other institutional investors have also added to or reduced their stakes in WRBY. Global Retirement Partners LLC purchased a new position in shares of Warby Parker during the 4th quarter valued at $25,000. Jones Financial Companies Lllp raised its position in shares of Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after buying an additional 1,028 shares during the last quarter. KBC Group NV lifted its holdings in shares of Warby Parker by 39.3% in the fourth quarter. KBC Group NV now owns 4,743 shares of the company's stock worth $115,000 after buying an additional 1,339 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Warby Parker during the fourth quarter worth $201,000. Finally, BBR Partners LLC purchased a new position in Warby Parker during the fourth quarter valued at $239,000. 93.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several research reports. Robert W. Baird increased their price objective on shares of Warby Parker from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, February 28th. Morgan Stanley raised their price target on Warby Parker from $17.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Roth Mkm started coverage on Warby Parker in a report on Tuesday, February 25th. They set a "neutral" rating and a $26.00 price objective on the stock. Evercore ISI reissued an "in-line" rating and issued a $23.00 target price on shares of Warby Parker in a report on Friday, January 17th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Warby Parker in a research note on Friday, February 28th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Warby Parker currently has an average rating of "Moderate Buy" and an average price target of $23.14.

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Warby Parker Trading Down 2.3 %

Shares of WRBY stock traded down $0.35 on Friday, reaching $14.83. 3,146,702 shares of the company's stock were exchanged, compared to its average volume of 1,708,950. The company's fifty day simple moving average is $21.14 and its 200 day simple moving average is $21.62. The stock has a market capitalization of $1.54 billion, a PE ratio of -54.91 and a beta of 2.00. Warby Parker Inc. has a 52 week low of $11.66 and a 52 week high of $28.68.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. This represents a 5.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $657,783.84. Following 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,651 shares of company stock worth $2,313,092. 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.