Rational Advisors Inc. Buys New Shares in Warby Parker Inc. $WRBY

by · The Cerbat Gem

Rational Advisors Inc. bought a new stake in shares of Warby Parker Inc. (NYSE:WRBY – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 43,500 shares of the company’s stock, valued at approximately $948,000.

Other large investors also recently modified their holdings of the company. Impax Asset Management Group plc lifted its stake in shares of Warby Parker by 28.3% during the 3rd quarter. Impax Asset Management Group plc now owns 385,000 shares of the company’s stock valued at $10,618,000 after buying an additional 85,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Warby Parker by 40.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock valued at $201,426,000 after acquiring an additional 2,120,768 shares during the last quarter. Udine Wealth Management Inc. bought a new stake in Warby Parker in the 4th quarter valued at $1,284,000. Kingdon Capital Management L.L.C. bought a new stake in Warby Parker in the 3rd quarter valued at $9,653,000. Finally, Vanguard Group Inc. increased its holdings in Warby Parker by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock valued at $294,155,000 after acquiring an additional 327,830 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Analysts Set New Price Targets

WRBY has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. UBS Group upped their price target on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. BTIG Research upped their price target on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Telsey Advisory Group boosted their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

View Our Latest Research Report on Warby Parker

Warby Parker Stock Up 2.9%

NYSE:WRBY opened at $25.09 on Wednesday. Warby Parker Inc. has a 52 week low of $14.96 and a 52 week high of $31.00. The firm has a 50 day moving average of $23.84 and a 200 day moving average of $23.88. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 1,254.88 and a beta of 1.96.

Warby Parker (NYSE:WRBY – Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 EPS. As a group, analysts expect that Warby Parker Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, Director Bradley E. Singer sold 20,167 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $28.51, for a total value of $574,961.17. Following the sale, the director owned 104,833 shares in the company, valued at $2,988,788.83. This represents a 16.13% decrease in their ownership of the stock. The transaction 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 stock in a transaction on Friday, April 17th. The stock was sold at an average price of $24.56, for a total transaction of $1,847,231.28. Following the completion of the sale, the chief executive officer owned 50,165 shares in the company, valued at $1,232,052.40. The trade was a 59.99% decrease in their position. 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 ninety days, insiders sold 188,040 shares of company stock valued at $5,075,026. Corporate insiders own 16.80% of the company’s stock.

Warby Parker Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding WRBY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warby Parker Inc. (NYSE:WRBY – Free Report).