King Luther Capital Management Corp Acquires 137,995 Shares of Warby Parker Inc. $WRBY

King Luther Capital Management Corp increased its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 48.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 423,258 shares of the company’s stock after buying an additional 137,995 shares during the quarter. King Luther Capital Management Corp’s holdings in Warby Parker were worth $9,223,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First Horizon Corp raised its position in Warby Parker by 96.7% in the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after purchasing an additional 595 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Warby Parker in the fourth quarter valued at about $35,000. Farther Finance Advisors LLC raised its position in Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after purchasing an additional 494 shares during the last quarter. NewEdge Advisors LLC raised its position in Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock valued at $65,000 after purchasing an additional 850 shares during the last quarter. Finally, Covestor Ltd raised its position in Warby Parker by 5,795.3% in the fourth quarter. Covestor Ltd now owns 2,535 shares of the company’s stock valued at $55,000 after purchasing an additional 2,492 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Insider Transactions at Warby Parker

In other news, Director Bradley E. Singer sold 20,167 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $28.51, for a total transaction of $574,961.17. Following the completion of the transaction, the director directly owned 104,833 shares in the company, valued at $2,988,788.83. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 75,213 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $24.56, for a total value of $1,847,231.28. Following the transaction, the chief executive officer owned 50,165 shares of the company’s stock, valued at $1,232,052.40. This trade represents a 59.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 203,833 shares of company stock valued at $5,509,808 over the last 90 days. 16.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on WRBY. UBS Group increased their target price on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. BTIG Research increased their target price on Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Finally, Telsey Advisory Group increased 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. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Warby Parker Price Performance

Shares of WRBY opened at $25.69 on Thursday. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 1,285.09 and a beta of 1.95. The business has a 50-day moving average of $23.78 and a 200-day moving average of $23.72.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company had revenue of $242.45 million for the quarter, compared to the consensus estimate of $239.44 million. During the same quarter last year, the business earned $0.03 earnings per share. Warby Parker’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Warby Parker Inc. will post 0.24 EPS for the current 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.