Principal Financial Group Inc. Has $207,000 Stake in Warby Parker Inc. $WRBY

Principal Financial Group Inc. reduced its stake in Warby Parker Inc. (NYSE:WRBY) by 92.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,523 shares of the company’s stock after selling 98,733 shares during the quarter. Principal Financial Group Inc.’s holdings in Warby Parker were worth $207,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in WRBY. Arizona State Retirement System raised its stake in shares of Warby Parker by 8.3% in the 3rd quarter. Arizona State Retirement System now owns 26,285 shares of the company’s stock valued at $725,000 after purchasing an additional 2,004 shares during the period. Ballentine Partners LLC bought a new position in shares of Warby Parker during the third quarter worth about $214,000. Compass Wealth Management LLC acquired a new stake in Warby Parker in the 3rd quarter valued at approximately $2,184,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Warby Parker by 5.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 167,128 shares of the company’s stock valued at $4,609,000 after buying an additional 8,855 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Warby Parker by 10.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,511 shares of the company’s stock valued at $566,000 after acquiring an additional 1,984 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Trading Up 1.7%

Shares of WRBY opened at $23.71 on Friday. The company’s fifty day simple moving average is $25.39 and its 200 day simple moving average is $24.05. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 2,370.70 and a beta of 2.05.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the completion of the transaction, the chief executive officer owned 37,119 shares in the company, valued at approximately $931,315.71. This trade represents a 80.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total value of $518,431.32. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $520,200. This trade represents a 49.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 359,424 shares of company stock worth $9,813,571 in the last ninety days. Insiders own 18.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Citizens Jmp raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a research note on Wednesday, December 10th. Telsey Advisory Group restated an “outperform” rating and set a $32.00 target price on shares of Warby Parker in a report on Friday. BTIG Research raised their target price on shares of Warby Parker from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Citigroup upgraded shares of Warby Parker from a “hold” rating to an “outperform” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen downgraded shares of Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.83.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.