Knights of Columbus Asset Advisors LLC Has $1.04 Million Stock Position in Warby Parker Inc. $WRBY

Knights of Columbus Asset Advisors LLC lessened its stake in Warby Parker Inc. (NYSE:WRBY) by 42.9% in the 4th quarter, HoldingsChannel reports. The fund owned 47,885 shares of the company’s stock after selling 36,022 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Warby Parker were worth $1,043,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Warby Parker by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after buying an additional 327,830 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Warby Parker by 40.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after purchasing an additional 2,120,768 shares during the last quarter. Marshall Wace LLP lifted its position in Warby Parker by 10.1% during the 3rd quarter. Marshall Wace LLP now owns 2,060,103 shares of the company’s stock valued at $56,818,000 after purchasing an additional 189,758 shares during the period. Goldman Sachs Group Inc. boosted 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. Finally, TimesSquare Capital Management LLC boosted its stake in shares of Warby Parker by 34.2% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,353,554 shares of the company’s stock valued at $29,494,000 after purchasing an additional 344,879 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Price Performance

Warby Parker stock opened at $25.72 on Friday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 1,286.39 and a beta of 1.95. The company’s 50 day simple moving average is $23.83 and its 200 day simple moving average is $23.78. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm 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 firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.03 EPS. As a group, analysts predict that Warby Parker Inc. will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bradley E. Singer sold 4,833 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $29.01, for a total transaction of $140,205.33. Following the sale, the director owned 100,000 shares of the company’s stock, valued at approximately $2,901,000. This trade represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $30.03, for a total value of $1,893,091.20. Following the transaction, the chief executive officer owned 50,165 shares in the company, valued at approximately $1,506,454.95. This represents a 55.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 203,833 shares of company stock valued at $5,509,808. 16.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Telsey Advisory Group boosted their price target on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. BTIG Research raised their price objective on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a report on Friday, May 22nd. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Finally, Piper Sandler restated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

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.