Atika Capital Management LLC Purchases Shares of 103,338 Warby Parker Inc. (NYSE:WRBY)

Atika Capital Management LLC acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 103,338 shares of the company’s stock, valued at approximately $2,502,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Warby Parker by 103.4% in the 4th quarter. Wells Fargo & Company MN now owns 63,575 shares of the company’s stock worth $1,539,000 after buying an additional 32,315 shares during the last quarter. Geode Capital Management LLC boosted its position in Warby Parker by 1.4% in the fourth 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 during the last quarter. Anthracite Investment Company Inc. bought a new position in Warby Parker in the 4th quarter valued at $1,210,000. LPL Financial LLC bought a new stake in shares of Warby Parker during the 4th quarter worth $476,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Warby Parker in the 4th quarter worth about $421,000. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Steven Clive Miller sold 11,684 shares of the company’s 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 directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. The trade was a 5.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,967 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 $657,783.84. Following the completion of the transaction, the chief executive officer now directly owns 23,961 shares in the company, valued at approximately $563,562.72. This represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,651 shares of company stock worth $2,313,092 in the last ninety days. 26.55% of the stock is currently owned by insiders.

Warby Parker Stock Performance

Shares of WRBY stock opened at $15.79 on Friday. The company has a market capitalization of $1.64 billion, a PE ratio of -58.49 and a beta of 2.00. Warby Parker Inc. has a 52-week low of $11.66 and a 52-week high of $28.68. The business’s fifty day moving average is $22.80 and its 200 day moving average is $21.64.

Analysts Set New Price Targets

A number of analysts recently issued reports on WRBY shares. UBS Group raised their price objective on shares of Warby Parker from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. JMP Securities lifted their price target on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. Evercore ISI reissued an “in-line” rating and set a $23.00 price objective on shares of Warby Parker in a report on Friday, January 17th. Citigroup restated an “outperform” rating on shares of Warby Parker in a research note on Friday, February 28th. Finally, Morgan Stanley increased their price target on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $23.43.

Warby Parker Company 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.