Trexquant Investment LP Decreases Stock Position in Warby Parker Inc. (NYSE:WRBY)

Trexquant Investment LP reduced its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 34.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,973 shares of the company’s stock after selling 85,654 shares during the quarter. Trexquant Investment LP owned approximately 0.16% of Warby Parker worth $3,921,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WRBY. State Street Corp increased its stake in shares of Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after purchasing an additional 69,108 shares in the last quarter. Shaker Investments LLC OH acquired a new position in shares of Warby Parker in the fourth quarter worth $279,000. Geode Capital Management LLC lifted its position in shares of Warby Parker by 7.9% in the third quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock valued at $32,187,000 after acquiring an additional 144,623 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after acquiring an additional 1,028 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new stake in Warby Parker during the 4th quarter worth about $1,316,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Trading Down 2.0 %

Shares of WRBY stock opened at $15.79 on Friday. The company has a market cap of $1.64 billion, a PE ratio of -58.49 and a beta of 2.00. The company’s fifty day simple moving average is $22.80 and its 200-day simple moving average is $21.64. Warby Parker Inc. has a 52 week low of $11.66 and a 52 week high of $28.68.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WRBY shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $28.00 price target on shares of Warby Parker in a research note on Thursday, February 27th. Morgan Stanley raised their target price on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup reissued an “outperform” rating on shares of Warby Parker in a research note on Friday, February 28th. JMP Securities upped their target price on Warby Parker from $23.00 to $28.00 and gave the company a “market outperform” rating in a research note on Monday, December 16th. Finally, Stifel Nicolaus raised their price target on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $23.43.

Insider Activity at Warby Parker

In other news, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the completion of the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. This represents a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 27,967 shares of Warby Parker stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $657,783.84. Following the sale, the chief executive officer now directly owns 23,961 shares in the company, valued at $563,562.72. This trade represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 89,651 shares of company stock worth $2,313,092. 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.