Warby Parker Inc. (NYSE:WRBY) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in Warby Parker Inc. (NYSE:WRBY) by 10.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,109,103 shares of the company’s stock after selling 244,729 shares during the period. Nuveen Asset Management LLC’s holdings in Warby Parker were worth $51,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in WRBY. American Century Companies Inc. increased its position in Warby Parker by 64.7% in the fourth quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock worth $51,916,000 after buying an additional 842,558 shares during the period. Durable Capital Partners LP increased its position in Warby Parker by 10.3% in the fourth quarter. Durable Capital Partners LP now owns 9,017,825 shares of the company’s stock worth $218,322,000 after buying an additional 840,797 shares during the period. Great Lakes Advisors LLC acquired a new stake in Warby Parker in the fourth quarter worth $14,596,000. Symmetry Investments LP acquired a new stake in Warby Parker in the fourth quarter worth $8,581,000. Finally, Raymond James Financial Inc. acquired a new stake in Warby Parker in the fourth quarter worth $8,272,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 27,967 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $657,783.84. Following the completion of the transaction, the chief executive officer now owns 23,961 shares in the company, valued at $563,562.72. This trade represents a 53.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 11,684 shares of the 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 owns 204,727 shares of the company’s stock, valued at $4,815,179.04. This trade represents a 5.40% decrease in their position. The disclosure for this sale can be found here. 26.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WRBY. Loop Capital raised Warby Parker from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, April 17th. JMP Securities decreased their price target on Warby Parker from $30.00 to $22.00 and set a “market outperform” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group increased their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Piper Sandler decreased their price target on Warby Parker from $30.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, Telsey Advisory Group decreased their price target on Warby Parker from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Warby Parker Stock Down 0.7%

NYSE:WRBY opened at $17.59 on Tuesday. Warby Parker Inc. has a 1-year low of $12.46 and a 1-year high of $28.68. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -65.15 and a beta of 2.01. The stock has a fifty day simple moving average of $16.90 and a 200 day simple moving average of $21.59.

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.