393,085 Shares in Warby Parker Inc. $WRBY Acquired by Atreides Management LP

Atreides Management LP bought a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 393,085 shares of the company’s stock, valued at approximately $8,565,000. Atreides Management LP owned about 0.37% of Warby Parker at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Horizon Corp increased its holdings in shares of Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after acquiring an additional 595 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Warby Parker during the 4th quarter worth approximately $35,000. Farther Finance Advisors LLC increased its holdings in shares of Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after acquiring an additional 494 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Warby Parker by 56.7% during the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Warby Parker by 5,795.3% during the 4th quarter. Covestor Ltd now owns 2,535 shares of the company’s stock worth $55,000 after acquiring an additional 2,492 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Warby Parker

In related news, Director Bradley E. Singer sold 4,833 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $29.01, for a total value of $140,205.33. Following the completion of the sale, the director directly owned 100,000 shares in the company, valued at approximately $2,901,000. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 63,040 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $30.03, for a total value of $1,893,091.20. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at approximately $1,506,454.95. This trade represents a 55.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 198,040 shares of company stock worth $5,340,326. Company insiders own 16.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WRBY. UBS Group boosted their price objective on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Telsey Advisory Group upped their target price on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Warby Parker Trading Down 3.3%

Warby Parker stock opened at $24.31 on Thursday. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 1,215.91 and a beta of 1.96. The stock’s 50 day moving average is $24.59 and its 200-day moving average is $24.45. Warby Parker Inc. has a 12 month low of $14.96 and a 12 month high of $31.00.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. As a group, equities research analysts predict that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal year.

Warby Parker 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.