Warby Parker Inc. $WRBY Shares Sold by UBS Group AG

UBS Group AG trimmed its position in shares of Warby Parker Inc. (NYSE:WRBY) by 15.6% during the fourth quarter, HoldingsChannel reports. The fund owned 736,461 shares of the company’s stock after selling 135,859 shares during the quarter. UBS Group AG’s holdings in Warby Parker were worth $16,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in shares of Warby Parker by 259.3% during the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after acquiring an additional 861 shares during the period. First Horizon Corp increased its stake in shares of Warby Parker by 96.7% during the fourth 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 period. Eagle Bay Advisors LLC acquired a new position in shares of Warby Parker during the fourth quarter worth about $35,000. NewEdge Advisors LLC increased its stake in shares of Warby Parker by 56.7% during the third 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 period. Finally, Neo Ivy Capital Management acquired a new position in shares of Warby Parker during the third quarter worth about $112,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings upgraded shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday. 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. Citigroup boosted their price target on shares of Warby Parker from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Finally, BTIG Research boosted their price target on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.00.

Insider Activity

In other Warby Parker news, Director Bradley E. Singer sold 15,793 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total transaction of $434,781.29. Following the transaction, the director directly owned 16,026 shares in the company, valued at approximately $441,195.78. This represents a 49.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 75,213 shares of the company’s stock in a transaction dated 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 transaction, 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 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. Insiders have sold 115,793 shares of company stock worth $2,901,550 over the last 90 days. 16.80% of the stock is currently owned by company insiders.

Warby Parker Trading Down 6.4%

Shares of WRBY opened at $26.96 on Wednesday. The firm’s 50-day moving average is $23.57 and its two-hundred day moving average is $23.22. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00. The firm has a market capitalization of $2.89 billion, a P/E ratio of 1,348.62 and a beta of 1.95.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $239.44 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts predict 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.