Vaughan Nelson Investment Management L.P. Sells 116,270 Shares of Warby Parker Inc. $WRBY

Vaughan Nelson Investment Management L.P. reduced its position in shares of Warby Parker Inc. (NYSE:WRBY) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,305,680 shares of the company’s stock after selling 116,270 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 2.18% of Warby Parker worth $50,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Man Group plc increased its stake in shares of Warby Parker by 1.6% during the second quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after buying an additional 400 shares during the period. Choreo LLC lifted its stake in Warby Parker by 4.6% in the third quarter. Choreo LLC now owns 16,605 shares of the company’s stock worth $458,000 after acquiring an additional 728 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Warby Parker by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,034 shares of the company’s stock worth $220,000 after acquiring an additional 769 shares in the last quarter. New York State Teachers Retirement System increased its position in Warby Parker by 10.1% during the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock valued at $246,000 after purchasing an additional 816 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in shares of Warby Parker by 5.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 15,899 shares of the company’s stock valued at $349,000 after purchasing an additional 819 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on WRBY shares. Stifel Nicolaus increased their price objective on shares of Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research note on Friday, December 12th. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a report on Wednesday, December 10th. UBS Group reiterated a “neutral” rating and issued a $20.00 price target on shares of Warby Parker in a report on Wednesday, February 25th. Piper Sandler boosted their price target on Warby Parker from $22.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings cut Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, March 2nd. Ten analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Warby Parker Stock Down 0.1%

Shares of WRBY opened at $20.30 on Tuesday. The company has a 50 day moving average of $24.36 and a two-hundred day moving average of $23.68. Warby Parker Inc. has a twelve month low of $13.63 and a twelve month high of $31.00. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 1,015.61 and a beta of 2.05.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total value of $1,354,000.00. Following the completion of the sale, the chief executive officer owned 37,119 shares of the company’s stock, valued at $1,005,182.52. This trade represents a 57.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bradley E. Singer sold 15,793 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total value of $434,781.29. Following the transaction, the director directly owned 16,026 shares in the company, valued at $441,195.78. This represents a 49.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 216,453 shares of company stock valued at $5,572,075 in the last three months. Insiders own 18.24% of the company’s stock.

Warby Parker Company Profile

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.