Polen Capital Management LLC Decreases Stake in Warby Parker Inc. (NYSE:WRBY)

Polen Capital Management LLC lowered its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 319,822 shares of the company's stock after selling 94,583 shares during the quarter. Polen Capital Management LLC owned approximately 0.31% of Warby Parker worth $7,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WRBY. Janney Montgomery Scott LLC increased its position in shares of Warby Parker by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company's stock valued at $782,000 after purchasing an additional 1,556 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Warby Parker during the 3rd quarter valued at about $372,000. Natixis Advisors LLC increased its holdings in Warby Parker by 4.7% in the 3rd quarter. Natixis Advisors LLC now owns 466,413 shares of the company's stock worth $7,617,000 after acquiring an additional 21,121 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company's stock worth $41,735,000 after acquiring an additional 78,295 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in Warby Parker in the 3rd quarter worth approximately $213,000. Hedge funds and other institutional investors own 93.24% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently commented on WRBY. Evercore ISI restated an "in-line" rating and issued a $23.00 price target on shares of Warby Parker in a report on Friday, January 17th. Telsey Advisory Group restated an "outperform" rating and issued a $28.00 price target on shares of Warby Parker in a report on Thursday, February 27th. Roth Capital upgraded shares of Warby Parker to a "strong-buy" rating in a report on Monday, February 24th. Roth Mkm began coverage on shares of Warby Parker in a report on Tuesday, February 25th. They issued a "neutral" rating and a $26.00 price target on the stock. Finally, JMP Securities upped their price target on shares of Warby Parker from $23.00 to $28.00 and gave the stock a "market outperform" rating in a report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.43.

Warby Parker Trading Down 0.3 %

Shares of NYSE:WRBY traded down $0.07 during trading on Thursday, reaching $18.94. The stock had a trading volume of 2,210,175 shares, compared to its average volume of 1,585,412. Warby Parker Inc. has a one year low of $11.66 and a one year high of $28.68. The company has a market capitalization of $1.96 billion, a P/E ratio of -70.13 and a beta of 1.91. The firm's 50-day simple moving average is $24.47 and its 200 day simple moving average is $21.27.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 300,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $25.14, for a total value of $7,542,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company's stock, valued at $306,129.78. This trade represents a 96.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 11,684 shares of the 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 completion of the transaction, the chief financial officer now directly 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. In the last ninety days, insiders have sold 483,597 shares of company stock worth $12,211,257. Corporate insiders own 26.55% of the company's stock.

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.