Dark Forest Capital Management LP Purchases New Holdings in Warby Parker Inc. (NYSE:WRBY)

Dark Forest Capital Management LP acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 39,776 shares of the company's stock, valued at approximately $963,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Warby Parker by 64.7% during the fourth quarter. American Century Companies Inc. now owns 2,144,422 shares of the company's stock worth $51,916,000 after purchasing an additional 842,558 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Warby Parker in the 4th quarter worth $14,596,000. Raymond James Financial Inc. purchased a new stake in shares of Warby Parker in the fourth quarter valued at about $8,272,000. Renaissance Technologies LLC increased its stake in shares of Warby Parker by 18.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company's stock worth $48,478,000 after acquiring an additional 313,100 shares during the period. Finally, First Eagle Investment Management LLC raised its holdings in Warby Parker by 792.7% during the fourth quarter. First Eagle Investment Management LLC now owns 312,258 shares of the company's stock worth $7,560,000 after purchasing an additional 277,278 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Warby Parker

In related news, CFO Steven Clive Miller sold 11,684 shares of the company's 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 $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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction 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. The trade was a 53.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,651 shares of company stock valued at $2,313,092 over the last three months. 26.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WRBY. The Goldman Sachs Group dropped their target price on Warby Parker from $29.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday. Loop Capital upgraded Warby Parker from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research report on Thursday, April 17th. Citigroup restated an "outperform" rating on shares of Warby Parker in a research report on Friday, February 28th. Piper Sandler cut their price target on shares of Warby Parker from $30.00 to $20.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley raised their price objective on shares of Warby Parker from $17.00 to $23.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. 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 stock. Based on data from MarketBeat, Warby Parker presently has a consensus rating of "Moderate Buy" and an average price target of $22.93.

Warby Parker Price Performance

Shares of Warby Parker stock opened at $14.92 on Thursday. Warby Parker Inc. has a 1 year low of $11.66 and a 1 year high of $28.68. The business has a 50 day moving average price of $19.26 and a 200 day moving average price of $21.50. The company has a market capitalization of $1.55 billion, a P/E ratio of -55.26 and a beta of 2.00.

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.

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