Zweig DiMenna Associates LLC Has $9.58 Million Stake in Warby Parker Inc. (NYSE:WRBY)

Zweig DiMenna Associates LLC reduced its stake in shares of Warby Parker Inc. (NYSE:WRBY) by 22.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 395,850 shares of the company’s stock after selling 111,600 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Warby Parker were worth $9,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WRBY. Dakota Wealth Management acquired a new stake in shares of Warby Parker in the fourth quarter valued at $895,000. Perpetual Ltd acquired a new position in Warby Parker during the 4th quarter worth $488,000. Geode Capital Management LLC boosted its position in Warby Parker by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock valued at $32,187,000 after buying an additional 144,623 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Warby Parker during the third quarter worth $318,000. Finally, XTX Topco Ltd lifted its stake in shares of Warby Parker by 71.8% during the third quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock valued at $721,000 after acquiring an additional 18,443 shares during the period. Institutional investors own 93.24% of the company’s stock.

Insider Activity at Warby Parker

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

Warby Parker Stock Performance

NYSE:WRBY opened at $25.94 on Friday. Warby Parker Inc. has a fifty-two week low of $11.35 and a fifty-two week high of $27.10. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -96.70 and a beta of 1.88. The stock has a fifty day moving average price of $24.37 and a 200-day moving average price of $18.79.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WRBY. The Goldman Sachs Group increased their price objective on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Telsey Advisory Group raised their price target on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Piper Sandler upped their price objective on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. BTIG Research raised their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Robert W. Baird increased their price target on shares of Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Warby Parker presently 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.