Fmr LLC Has $108.90 Million Stock Holdings in Warby Parker Inc. (NYSE:WRBY)

FMR LLC lessened its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 31.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,668,586 shares of the company's stock after selling 3,130,704 shares during the period. FMR LLC owned 6.56% of Warby Parker worth $108,898,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. First Eagle Investment Management LLC acquired a new position in Warby Parker during the second quarter valued at approximately $131,000. Choreo LLC acquired a new position in Warby Parker in the 2nd quarter valued at $167,000. AQR Capital Management LLC bought a new position in Warby Parker in the 2nd quarter worth $186,000. LVW Advisors LLC acquired a new position in Warby Parker during the 2nd quarter worth $201,000. Finally, Thrivent Financial for Lutherans bought a new stake in Warby Parker during the 3rd quarter valued at approximately $213,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Stock Performance

WRBY stock traded down $0.43 during mid-day trading on Thursday, hitting $23.26. 1,024,452 shares of the company were exchanged, compared to its average volume of 1,435,068. Warby Parker Inc. has a 1-year low of $10.28 and a 1-year high of $24.60. The firm's 50 day simple moving average is $18.87 and its 200 day simple moving average is $16.68. The firm has a market cap of $2.36 billion, a P/E ratio of -87.74 and a beta of 1.93.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WRBY. Telsey Advisory Group boosted their price objective on shares of Warby Parker from $22.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, November 19th. JMP Securities raised Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 price objective on the stock in a report on Friday, August 23rd. Robert W. Baird raised their target price on Warby Parker from $18.00 to $23.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a "neutral" rating to a "buy" rating and upped their price target for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Finally, William Blair upgraded shares of Warby Parker from a "market perform" rating to an "outperform" rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.82.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $13.89, for a total value of $694,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $169,138.53. This represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,178 shares of company stock worth $1,339,901. Corporate insiders own 26.55% of the company's stock.

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.