Canada Pension Plan Investment Board Sells 121,300 Shares of Warby Parker Inc. (NYSE:WRBY)

Canada Pension Plan Investment Board reduced its stake in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 49.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,700 shares of the company's stock after selling 121,300 shares during the period. Canada Pension Plan Investment Board owned 0.12% of Warby Parker worth $3,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WRBY. NewEdge Advisors LLC raised its holdings 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 purchasing an additional 1,050 shares during the last quarter. Jump Financial LLC bought a new position in Warby Parker during the fourth quarter worth $4,755,000. Portolan Capital Management LLC lifted its holdings in Warby Parker by 89.3% in the fourth quarter. Portolan Capital Management LLC now owns 441,784 shares of the company's stock valued at $10,696,000 after buying an additional 208,383 shares during the period. Mariner LLC lifted its holdings in Warby Parker by 6.5% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company's stock valued at $261,000 after buying an additional 660 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in Warby Parker by 10.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company's stock worth $224,000 after acquiring an additional 840 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on WRBY. Roth Mkm began coverage on Warby Parker in a research report on Tuesday, February 25th. They set a "neutral" rating and a $26.00 target price on the stock. Evercore ISI restated an "in-line" rating and set a $23.00 price target on shares of Warby Parker in a report on Friday, January 17th. Citigroup reiterated an "outperform" rating on shares of Warby Parker in a research note on Friday, February 28th. Piper Sandler cut their target price on shares of Warby Parker from $30.00 to $20.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, JMP Securities decreased their price target on shares of Warby Parker from $30.00 to $22.00 and set a "market outperform" rating for the company in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.93.

Insider Transactions at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 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 $274,807.68. Following the completion of the sale, the chief financial officer now directly owns 204,727 shares of the company's stock, valued at $4,815,179.04. This trade represents a 5.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the company's 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 transaction, the chief executive officer now directly owns 23,961 shares in the company, valued at $563,562.72. This represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,651 shares of company stock worth $2,313,092 in the last 90 days. Insiders own 26.55% of the company's stock.

Warby Parker Price Performance

WRBY opened at $14.39 on Wednesday. Warby Parker Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $28.68. The company's 50-day moving average is $19.47 and its 200 day moving average is $21.55. The firm has a market capitalization of $1.49 billion, a P/E ratio of -53.29 and a beta of 2.00.

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.

Want to see what other hedge funds are holding WRBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warby Parker Inc. (NYSE:WRBY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.