Rock Springs Capital Management LP Trims Stake in Warby Parker Inc. (NYSE:WRBY)

Rock Springs Capital Management LP lowered its position in Warby Parker Inc. (NYSE:WRBY - Free Report) by 36.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 920,000 shares of the company's stock after selling 519,050 shares during the quarter. Rock Springs Capital Management LP owned 0.90% of Warby Parker worth $22,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in Warby Parker during the 4th quarter worth approximately $25,000. NewEdge Advisors LLC boosted its position in Warby Parker by 700.0% during the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock valued at $29,000 after acquiring an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after acquiring an additional 1,028 shares during the period. KBC Group NV lifted its stake in shares of Warby Parker by 39.3% in the 4th quarter. KBC Group NV now owns 4,743 shares of the company's stock valued at $115,000 after purchasing an additional 1,339 shares during the period. Finally, Cibc World Markets Corp bought a new stake in shares of Warby Parker during the 4th quarter valued at about $201,000. Institutional investors own 93.24% of the company's stock.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. The trade was a 5.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,967 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 $657,783.84. Following the completion of the transaction, the chief executive officer now owns 23,961 shares in the company, valued at approximately $563,562.72. This trade represents a 53.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,651 shares of company stock valued at $2,313,092 over the last 90 days. Corporate insiders own 26.55% of the company's stock.

Warby Parker Stock Performance

Shares of Warby Parker stock traded up $0.89 during midday trading on Thursday, hitting $15.81. The company had a trading volume of 2,551,999 shares, compared to its average volume of 1,752,117. The company has a 50 day moving average of $19.06 and a 200 day moving average of $21.50. The stock has a market capitalization of $1.64 billion, a P/E ratio of -58.56 and a beta of 2.00. Warby Parker Inc. has a 52-week low of $11.66 and a 52-week high of $28.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WRBY shares. Roth Capital raised Warby Parker to a "strong-buy" rating in a research note on Monday, February 24th. Robert W. Baird lifted their price target on Warby Parker from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. JMP Securities cut their price objective on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating for the company in a report on Monday, April 14th. UBS Group lifted their target price on shares of Warby Parker from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Finally, Citigroup reiterated an "outperform" rating on shares of Warby Parker in a research report on Friday, February 28th. 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.93.

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.