Jennison Associates LLC Trims Holdings in Warby Parker Inc. (NYSE:WRBY)

Jennison Associates LLC trimmed its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 9.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,757,361 shares of the company's stock after selling 181,755 shares during the quarter. Jennison Associates LLC owned approximately 1.73% of Warby Parker worth $42,546,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV grew its holdings in Warby Parker by 39.3% during the fourth quarter. KBC Group NV now owns 4,743 shares of the company's stock worth $115,000 after acquiring an additional 1,339 shares during the period. AQR Capital Management LLC acquired a new stake in Warby Parker during the 2nd quarter worth about $186,000. Thrivent Financial for Lutherans acquired a new stake in Warby Parker during the 3rd quarter worth about $213,000. LVW Advisors LLC lifted its holdings in shares of Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company's stock valued at $262,000 after buying an additional 3,500 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Warby Parker in the 3rd quarter valued at approximately $318,000. 93.24% of the stock is currently owned by institutional investors.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company's stock, valued at approximately $336,206.97. This trade represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 7,016 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the sale, the chief financial officer now owns 182,130 shares in the company, valued at $4,343,800.50. The trade was a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 608,032 shares of company stock valued at $15,188,364 over the last three months. Company insiders own 26.55% of the company's stock.

Warby Parker Stock Performance

Shares of Warby Parker stock traded up $0.10 on Friday, hitting $26.37. The company had a trading volume of 1,226,948 shares, compared to its average volume of 1,431,889. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -97.67 and a beta of 1.90. The stock has a 50 day moving average of $25.21 and a 200-day moving average of $19.64. Warby Parker Inc. has a 1 year low of $11.35 and a 1 year high of $28.68.

Analyst Ratings Changes

A number of research analysts have recently commented on WRBY shares. JMP Securities upped their price target on Warby Parker from $23.00 to $28.00 and gave the stock a "market outperform" rating in a report on Monday, December 16th. Telsey Advisory Group upped their target price on Warby Parker from $22.00 to $26.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Citigroup restated a "sell" rating and issued a $23.00 target price (up from $19.00) on shares of Warby Parker in a research note on Wednesday. Robert W. Baird increased their price objective on Warby Parker from $18.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Piper Sandler increased their price objective on Warby Parker from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.77.

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.