Castleark Management LLC Invests $4.29 Million in Warby Parker Inc. (NYSE:WRBY)

Castleark Management LLC acquired a new stake in Warby Parker Inc. (NYSE:WRBY) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 177,350 shares of the company’s stock, valued at approximately $4,294,000.

Other hedge funds have also added to or reduced their stakes in the company. Durable Capital Partners LP grew its stake 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 valued at $218,322,000 after acquiring an additional 840,797 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 3.5% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,645,540 shares of the company’s stock valued at $64,047,000 after purchasing an additional 89,835 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Warby Parker by 64.7% during the 4th quarter. American Century Companies Inc. now owns 2,144,422 shares of the company’s stock valued at $51,916,000 after purchasing an additional 842,558 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Warby Parker by 18.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,002,400 shares of the company’s stock valued at $48,478,000 after purchasing an additional 313,100 shares during the period. Finally, Geode Capital Management LLC increased its stake in Warby Parker by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,997,624 shares of the company’s stock worth $48,375,000 after purchasing an additional 27,004 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Trading Down 1.3%

NYSE:WRBY opened at $20.08 on Thursday. Warby Parker Inc. has a 1-year low of $12.46 and a 1-year high of $28.68. The firm has a fifty day simple moving average of $16.90 and a 200 day simple moving average of $21.57. The stock has a market capitalization of $2.10 billion, a PE ratio of -74.38 and a beta of 2.01.

Analysts Set New Price Targets

A number of brokerages have weighed in on WRBY. Telsey Advisory Group cut their price target on shares of Warby Parker from $30.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Loop Capital raised shares of Warby Parker from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group upped their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. TD Securities lifted their price target on Warby Parker from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird upped their price objective on Warby Parker from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.67.

Insiders Place Their Bets

In other news, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the sale, the chief financial officer now directly owns 204,727 shares of the company’s stock, valued at approximately $4,815,179.04. This represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $657,783.84. Following the completion of the sale, the chief executive officer now owns 23,961 shares of the company’s stock, valued at $563,562.72. This trade represents a 53.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.