PDT Partners LLC Decreases Stake in Warby Parker Inc. (NYSE:WRBY)

PDT Partners LLC decreased its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 63.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,811 shares of the company’s stock after selling 133,610 shares during the quarter. PDT Partners LLC owned about 0.08% of Warby Parker worth $1,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WRBY. Vanguard Group Inc. lifted its stake in Warby Parker by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock worth $118,095,000 after purchasing an additional 219,120 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Warby Parker by 3.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after buying an additional 78,295 shares in the last quarter. Jennison Associates LLC boosted its stake in Warby Parker by 13.6% during the third quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock worth $31,666,000 after buying an additional 232,530 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after buying an additional 211,050 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in shares of Warby Parker by 20.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock worth $29,111,000 after acquiring an additional 300,891 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Price Performance

Shares of WRBY opened at $22.54 on Monday. The company’s 50-day simple moving average is $18.40 and its 200-day simple moving average is $16.54. Warby Parker Inc. has a 1 year low of $10.28 and a 1 year high of $24.60.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Telsey Advisory Group raised their price target 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. BTIG Research upped their price objective on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upped their price target on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Warby Parker has an average rating of “Moderate Buy” and an average price target of $18.82.

Insider Buying and Selling

In other Warby Parker news, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the sale, the chief financial officer now owns 184,251 shares of the company’s stock, valued at $2,395,263. This trade represents a 7.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $13.89, for a total value of $694,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $169,138.53. This represents a 80.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock valued at $1,339,901 in the last ninety days. Company insiders own 26.55% of the company’s stock.

Warby Parker 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.