Atika Capital Management LLC Invests $2.50 Million in Warby Parker Inc. (NYSE:WRBY)

Atika Capital Management LLC acquired a new stake in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,338 shares of the company's stock, valued at approximately $2,502,000. Atika Capital Management LLC owned 0.10% of Warby Parker as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Warby Parker in the 4th quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its holdings 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 purchasing an additional 1,028 shares during the last quarter. KBC Group NV boosted its holdings in 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 purchasing an additional 1,339 shares during the last quarter. Cibc World Markets Corp bought a new stake in Warby Parker in the 4th quarter worth approximately $201,000. Finally, BBR Partners LLC bought a new position in shares of Warby Parker during the 4th quarter valued at $239,000. Institutional investors own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of research reports. Morgan Stanley upped their price objective on Warby Parker from $17.00 to $23.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Robert W. Baird raised their target price on Warby Parker from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, February 28th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $28.00 price objective on shares of Warby Parker in a research report on Thursday, February 27th. JMP Securities increased their price objective on shares of Warby Parker from $23.00 to $28.00 and gave the stock a "market outperform" rating in a research note on Monday, December 16th. Finally, Stifel Nicolaus dropped their target price on shares of Warby Parker from $25.00 to $18.00 and set a "hold" rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $23.14.

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Warby Parker Price Performance

Shares of NYSE:WRBY traded down $0.47 during trading hours on Friday, hitting $14.70. The company's stock had a trading volume of 1,246,591 shares, compared to its average volume of 1,698,563. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -54.68 and a beta of 2.00. The firm's fifty day moving average price is $21.38 and its 200 day moving average price is $21.62. Warby Parker Inc. has a 52 week low of $11.66 and a 52 week high of $28.68.

Insider Buying and Selling

In other news, CFO Steven Clive Miller sold 11,684 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the sale, the chief financial officer now owns 204,727 shares in the company, valued at approximately $4,815,179.04. The trade was a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company's stock, valued at $336,206.97. The trade was a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,651 shares of company stock worth $2,313,092 in the last three months. 26.55% of the stock is owned by insiders.

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.