Warby Parker Inc. $WRBY Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its holdings in Warby Parker Inc. (NYSE:WRBY) by 47.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 282,282 shares of the company’s stock after selling 253,215 shares during the period. Great Lakes Advisors LLC owned 0.27% of Warby Parker worth $7,785,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WRBY. AQR Capital Management LLC increased its position in Warby Parker by 101.0% in the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after acquiring an additional 86,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 acquiring an additional 2,297 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of 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 purchasing an additional 929,073 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Warby Parker in the first quarter valued at approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Warby Parker by 17.6% in the first 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 purchasing an additional 38,395 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $27.08, for a total transaction of $1,354,000.00. Following the completion of the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at approximately $1,005,182.52. This trade represents a 57.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joel E. Cutler sold 19,932 shares of Warby Parker stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total transaction of $518,431.32. Following the transaction, the director owned 20,000 shares of the company’s stock, valued at approximately $520,200. The trade was a 49.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 359,424 shares of company stock valued at $9,813,571. Insiders own 18.24% of the company’s stock.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $26.90 on Friday. Warby Parker Inc. has a one year low of $13.63 and a one year high of $31.00. The firm has a market capitalization of $2.84 billion, a P/E ratio of 2,689.70 and a beta of 2.05. The company’s fifty day moving average is $24.61 and its two-hundred day moving average is $24.06.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $221.68 million during the quarter, compared to analysts’ expectations of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. On average, sell-side analysts forecast that Warby Parker Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several recent research reports. 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. Stifel Nicolaus upped their price objective on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. UBS Group reduced their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $32.00 price target on shares of Warby Parker in a research note on Wednesday, December 17th. Finally, Robert W. Baird set a $35.00 price target on shares of Warby Parker in a report on Wednesday, December 17th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.38.

About Warby Parker

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.