Zweig DiMenna Associates LLC Sells 111,600 Shares of Warby Parker Inc. (NYSE:WRBY)

Zweig DiMenna Associates LLC trimmed its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 22.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 395,850 shares of the company's stock after selling 111,600 shares during the period. Zweig DiMenna Associates LLC owned approximately 0.39% of Warby Parker worth $9,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in Warby Parker in the 2nd quarter valued at $186,000. Thrivent Financial for Lutherans acquired a new stake in Warby Parker in the 3rd quarter valued at $213,000. LVW Advisors LLC increased its holdings in Warby Parker by 27.9% in the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company's stock valued at $262,000 after purchasing an additional 3,500 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Warby Parker in the 3rd quarter valued at $318,000. Finally, Perpetual Ltd acquired a new stake in Warby Parker in the 4th quarter valued at $488,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Trading Down 1.0 %

NYSE:WRBY traded down $0.26 during midday trading on Friday, hitting $25.98. 1,430,972 shares of the stock were exchanged, compared to its average volume of 1,795,345. Warby Parker Inc. has a one year low of $11.35 and a one year high of $27.10. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -96.22 and a beta of 1.88. The business has a 50-day moving average price of $24.37 and a two-hundred day moving average price of $18.79.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 300,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $306,129.78. The trade was a 96.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 7,016 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the transaction, the chief financial officer now owns 182,130 shares in the company, valued at approximately $4,343,800.50. This represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 558,032 shares of company stock valued at $13,807,864. Corporate insiders own 26.55% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Evercore ISI reaffirmed an "in-line" rating and set a $23.00 target price on shares of Warby Parker in a research report on Friday, January 17th. The Goldman Sachs Group lifted their target price on Warby Parker from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. BTIG Research lifted their target price on Warby Parker from $18.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Piper Sandler lifted their target price on Warby Parker from $18.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, Stifel Nicolaus lifted their target price on Warby Parker from $17.00 to $20.00 and gave the stock a "hold" rating in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Warby Parker currently has an average rating of "Moderate Buy" and a consensus price target of $21.67.

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.