Principal Financial Group Inc. Sells 98,733 Shares of Warby Parker Inc. $WRBY

Principal Financial Group Inc. decreased its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 92.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,523 shares of the company’s stock after selling 98,733 shares during the period. Principal Financial Group Inc.’s holdings in Warby Parker were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in shares of Warby Parker by 101.0% in the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after purchasing an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after buying an additional 2,297 shares during the period. Goldman Sachs Group Inc. grew its stake in Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after buying an additional 929,073 shares during the last quarter. Caxton Associates LLP acquired a new position in Warby Parker in the 1st quarter valued at about $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Warby Parker by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after acquiring an additional 38,395 shares during the period. 93.24% of the stock is owned by institutional investors.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $23.71 on Friday. The business’s 50 day simple moving average is $25.39 and its 200 day simple moving average is $24.05. Warby Parker Inc. has a 1 year low of $13.63 and a 1 year high of $31.00. The company has a market capitalization of $2.51 billion, a P/E ratio of 2,370.70 and a beta of 2.05.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WRBY. Robert W. Baird set a $35.00 price objective on Warby Parker in a report on Wednesday, December 17th. Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Wednesday, December 10th. Telsey Advisory Group restated an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a research note on Friday. Piper Sandler upped their price objective on Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Finally, Stifel Nicolaus increased their price objective on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.83.

Insider Buying and Selling

In related news, Director Youngme E. Moon sold 38,832 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the transaction, the director owned 27,057 shares in the company, valued at approximately $786,546.99. This trade represents a 58.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 150,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $25.09, for a total value of $3,763,500.00. Following the completion of the transaction, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at approximately $931,315.71. This trade represents a 80.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 359,424 shares of company stock worth $9,813,571. Company insiders own 18.24% of the company’s stock.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.