Polymer Capital Management US LLC Invests $423,000 in Warby Parker Inc. (NYSE:WRBY)

Polymer Capital Management US LLC bought a new stake in shares of Warby Parker Inc. (NYSE:WRBY) in the fourth quarter, Holdings Channel reports. The fund bought 17,475 shares of the company’s stock, valued at approximately $423,000.

A number of other hedge funds have also recently modified their holdings of WRBY. Charles Schwab Investment Management Inc. increased its holdings in Warby Parker by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 729,049 shares of the company’s stock worth $11,905,000 after acquiring an additional 87,868 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Warby Parker by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 195,772 shares of the company’s stock worth $3,197,000 after acquiring an additional 7,182 shares during the last quarter. State Street Corp boosted its position in shares of Warby Parker by 3.2% during the third quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after buying an additional 69,108 shares during the period. XTX Topco Ltd grew its holdings in shares of Warby Parker by 71.8% in the third quarter. XTX Topco Ltd now owns 44,145 shares of the company’s stock valued at $721,000 after purchasing an additional 18,443 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Warby Parker during the third quarter worth $318,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Down 2.0 %

WRBY stock opened at $15.79 on Monday. Warby Parker Inc. has a 12 month low of $11.66 and a 12 month high of $28.68. The firm has a 50 day moving average of $22.80 and a two-hundred day moving average of $21.69. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -58.49 and a beta of 2.00.

Analyst Upgrades and Downgrades

WRBY has been the topic of a number of analyst reports. Citigroup restated an “outperform” rating on shares of Warby Parker in a report on Friday, February 28th. Morgan Stanley lifted their target price on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Robert W. Baird lifted their target price on shares of Warby Parker from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Evercore ISI reaffirmed an “in-line” rating and set a $23.00 price target on shares of Warby Parker in a research note on Friday, January 17th. Finally, Roth Capital raised shares of Warby Parker to a “strong-buy” rating in a research note on Monday, February 24th. Six research 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.43.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 11,684 shares of Warby Parker stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $657,783.84. Following the sale, the chief executive officer now directly owns 23,961 shares of the company’s stock, valued at $563,562.72. This represents a 53.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,651 shares of company stock valued at $2,313,092. 26.55% of the stock is owned by company insiders.

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.