Jennison Associates LLC Sells 181,755 Shares of Warby Parker Inc. (NYSE:WRBY)

Jennison Associates LLC cut its holdings in Warby Parker Inc. (NYSE:WRBY) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,757,361 shares of the company’s stock after selling 181,755 shares during the quarter. Jennison Associates LLC owned about 1.73% of Warby Parker worth $42,546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WRBY. State Street Corp raised its position in shares of Warby Parker by 3.2% in the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after acquiring an additional 69,108 shares during the period. Blueshift Asset Management LLC bought a new stake in Warby Parker in the third quarter valued at approximately $1,223,000. TimesSquare Capital Management LLC raised its holdings in Warby Parker by 12.8% in the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after purchasing an additional 211,050 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Warby Parker by 3.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock worth $41,735,000 after purchasing an additional 78,295 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of Warby Parker by 20.3% during the third quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock worth $29,111,000 after purchasing an additional 300,891 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Price Performance

Warby Parker stock opened at $26.88 on Wednesday. The firm has a 50-day moving average of $24.99 and a 200-day moving average of $19.45. The company has a market cap of $2.73 billion, a price-to-earnings ratio of -99.56 and a beta of 1.90. Warby Parker Inc. has a one year low of $11.35 and a one year high of $28.68.

Analyst Upgrades and Downgrades

WRBY has been the topic of several research analyst reports. BTIG Research raised their price objective on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird raised their price target on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. The Goldman Sachs Group lifted their price objective on 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 increased their target price on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and an average target price of $21.67.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $817,645.43. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $275,321.97. The trade was a 74.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Clive Miller sold 14,853 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the sale, the chief financial officer now owns 189,146 shares of the company’s stock, valued at $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 608,032 shares of company stock valued at $15,188,364. Insiders own 26.55% of the company’s stock.

Warby Parker 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.