Prentiss Smith & Co. Inc. Cuts Stake in Warby Parker Inc. (NYSE:WRBY)

Prentiss Smith & Co. Inc. reduced its position in Warby Parker Inc. (NYSE:WRBY) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,642 shares of the company’s stock after selling 1,455 shares during the period. Warby Parker accounts for about 1.1% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 29th biggest position. Prentiss Smith & Co. Inc. owned about 0.07% of Warby Parker worth $1,613,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. KBC Group NV raised its holdings in Warby Parker by 39.3% during the 4th quarter. KBC Group NV now owns 4,743 shares of the company’s stock valued at $115,000 after buying an additional 1,339 shares during the period. AQR Capital Management LLC bought a new stake in Warby Parker during the 2nd quarter valued at $186,000. Thrivent Financial for Lutherans bought a new position in shares of Warby Parker during the 3rd quarter worth $213,000. LVW Advisors LLC raised its holdings in shares of Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Warby Parker during the 3rd quarter worth about $318,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Transactions 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 shares were sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $306,129.78. This represents a 96.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 14,853 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the sale, the chief financial officer now owns 189,146 shares in the company, valued at approximately $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 558,032 shares of company stock worth $13,807,864 over the last ninety days. Company insiders own 26.55% of the company’s stock.

Warby Parker Trading Down 0.9 %

NYSE WRBY traded down $0.26 during trading hours on Wednesday, reaching $26.71. The company had a trading volume of 60,728 shares, compared to its average volume of 1,640,242. The stock has a 50-day moving average of $24.60 and a 200 day moving average of $19.06. The stock has a market capitalization of $2.71 billion, a P/E ratio of -99.26 and a beta of 1.88. Warby Parker Inc. has a 1-year low of $11.35 and a 1-year high of $27.33.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Evercore ISI reaffirmed an “in-line” rating and issued a $23.00 price objective on shares of Warby Parker in a research report on Friday, January 17th. JMP Securities increased their target price on shares of Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research report on Monday, December 16th. Finally, Robert W. Baird lifted their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.67.

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.