Brevan Howard Capital Management LP Sells 3,378 Shares of Warby Parker Inc. (NYSE:WRBY)

Brevan Howard Capital Management LP lessened its holdings in Warby Parker Inc. (NYSE:WRBY) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,666 shares of the company’s stock after selling 3,378 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Warby Parker were worth $307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. grew its stake in shares of Warby Parker by 64.7% in the 4th 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 last quarter. Great Lakes Advisors LLC bought a new position in shares of Warby Parker during the fourth quarter valued at $14,596,000. Symmetry Investments LP purchased a new position in shares of Warby Parker in the 4th quarter worth about $8,581,000. Raymond James Financial Inc. bought a new position in Warby Parker in the 4th quarter worth about $8,272,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Warby Parker during the 4th quarter valued at about $8,124,000. Institutional investors own 93.24% of the company’s stock.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 27,967 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the transaction, the chief financial officer now directly owns 204,727 shares of the company’s stock, valued at $4,815,179.04. This represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. 26.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Roth Mkm initiated coverage on shares of Warby Parker in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $26.00 target price on the stock. UBS Group upped their price objective on Warby Parker from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, February 28th. Evercore ISI restated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. Piper Sandler dropped their price objective on Warby Parker from $30.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, JMP Securities lowered their target price on shares of Warby Parker from $30.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and an average target price of $22.21.

Warby Parker Price Performance

Shares of Warby Parker stock opened at $15.83 on Friday. The stock has a market capitalization of $1.65 billion, a PE ratio of -58.63 and a beta of 2.01. Warby Parker Inc. has a 1-year low of $12.46 and a 1-year high of $28.68. The company’s fifty day simple moving average is $17.30 and its 200-day simple moving average is $21.53.

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.