K.J. Harrison & Partners Inc Invests $1.31 Million in Warby Parker Inc. $WRBY

K.J. Harrison & Partners Inc bought a new stake in Warby Parker Inc. (NYSE:WRBY) in the 4th quarter, Holdings Channel reports. The institutional investor bought 60,000 shares of the company’s stock, valued at approximately $1,307,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Man Group plc raised its stake in Warby Parker by 1.6% in the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after purchasing an additional 400 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Warby Parker by 41.4% in the 4th 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. First Horizon Corp raised its stake in Warby Parker by 96.7% in the 4th 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. Choreo LLC raised its stake in Warby Parker by 4.6% in the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock valued at $458,000 after purchasing an additional 728 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Warby Parker by 10.1% in the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock valued at $246,000 after purchasing an additional 816 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Price Performance

WRBY opened at $21.98 on Thursday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 1,099.70 and a beta of 1.95. The business has a 50-day moving average of $23.21 and a two-hundred day moving average of $23.04. 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 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). Warby Parker had a return on equity of 2.22% and a net margin of 0.19%.The firm had revenue of $242.45 million for the quarter, compared to analysts’ expectations of $239.44 million. Equities research analysts anticipate that Warby Parker Inc. will post 0.24 earnings per share for the current year.

Insider Transactions at Warby Parker

In other news, Director Bradley E. Singer sold 15,793 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total transaction of $434,781.29. Following the completion of the sale, the director owned 16,026 shares in the company, valued at approximately $441,195.78. The trade was a 49.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 22,442 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $25.09, for a total value of $563,069.78. Following the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at $1,258,639.85. The trade was a 30.91% decrease in their position. 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 a total of 115,793 shares of company stock valued at $2,901,550 in the last quarter. Company insiders own 18.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WRBY. Citigroup boosted their target price on shares of Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Telsey Advisory Group restated an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a report on Friday, February 20th. UBS Group restated a “neutral” rating and issued a $20.00 price target on shares of Warby Parker in a report on Wednesday, February 25th. Finally, Weiss Ratings cut Warby Parker from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, March 2nd. Ten research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.09.

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.