Portolan Capital Management LLC Acquires 208,383 Shares of Warby Parker Inc. (NYSE:WRBY)

Portolan Capital Management LLC lifted its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 89.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,784 shares of the company's stock after buying an additional 208,383 shares during the period. Portolan Capital Management LLC owned about 0.43% of Warby Parker worth $10,696,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WRBY. Vaughan Nelson Investment Management L.P. increased its stake in Warby Parker by 3.5% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company's stock valued at $64,047,000 after buying an additional 89,835 shares during the last quarter. State Street Corp lifted its position in Warby Parker by 3.2% during the third quarter. State Street Corp now owns 2,209,025 shares of the company's stock worth $36,073,000 after acquiring an additional 69,108 shares during the last quarter. American Century Companies Inc. lifted its holdings in Warby Parker by 64.7% during the 4th 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 last quarter. Renaissance Technologies LLC lifted its holdings 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 buying an additional 313,100 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Warby Parker by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company's stock worth $48,375,000 after purchasing an additional 27,004 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker stock in a transaction 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 transaction, the chief executive officer now owns 23,961 shares in the company, valued at approximately $563,562.72. The trade was a 53.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction on Tuesday, March 4th. The shares were 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 owns 204,727 shares of the company's stock, valued at $4,815,179.04. The trade was a 5.40 % decrease in their ownership of the stock. 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.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Roth Capital upgraded Warby Parker to a "strong-buy" rating in a research note on Monday, February 24th. Loop Capital upgraded Warby Parker from a "hold" rating to a "buy" rating and set a $27.00 price target on the stock in a research report on Thursday. 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. UBS Group increased their price objective on shares of Warby Parker from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, February 28th. Finally, Evercore ISI restated an "in-line" rating and issued a $23.00 target price on shares of Warby Parker in a research report on Friday, January 17th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Warby Parker currently has an average rating of "Moderate Buy" and an average price target of $23.50.

Warby Parker Stock Down 0.1 %

Shares of NYSE WRBY traded down $0.01 during midday trading on Friday, reaching $14.25. 3,250,076 shares of the company were exchanged, compared to its average volume of 1,732,998. The stock's 50-day moving average price is $19.95 and its 200-day moving average price is $21.53. The stock has a market cap of $1.48 billion, a P/E ratio of -52.78 and a beta of 2.00. Warby Parker Inc. has a one year low of $11.66 and a one year high of $28.68.

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.