Y Intercept Hong Kong Ltd Invests $438,000 in Warby Parker Inc. $WRBY

Y Intercept Hong Kong Ltd purchased a new stake in Warby Parker Inc. (NYSE:WRBY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,771 shares of the company’s stock, valued at approximately $438,000.

Other large investors have also made changes to their positions in the company. First Horizon Corp raised its stake in Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after buying an additional 595 shares during the period. Eagle Bay Advisors LLC acquired a new position in Warby Parker in the fourth quarter valued at about $35,000. Farther Finance Advisors LLC grew its stake 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 acquiring an additional 494 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Warby Parker by 56.7% in 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 in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Warby Parker by 5,795.3% in the fourth quarter. Covestor Ltd now owns 2,535 shares of the company’s stock worth $55,000 after acquiring an additional 2,492 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Bradley E. Singer sold 4,833 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 100,000 shares of the company’s stock, valued at $2,901,000. This represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Youngme E. Moon sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.53, for a total transaction of $265,300.00. Following the transaction, the director directly owned 26,061 shares of the company’s stock, valued at $691,398.33. This represents a 27.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 466,207 shares of company stock worth $13,281,506. 16.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WRBY shares. Telsey Advisory Group raised their price target on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. BTIG Research increased their target price on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. UBS Group raised their target price on shares of Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Ten 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, the company has a consensus rating of “Moderate Buy” and an average target price of $29.82.

Warby Parker Price Performance

WRBY opened at $27.65 on Wednesday. The business’s 50-day moving average price is $26.64 and its two-hundred day moving average price is $25.00. 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 $2.96 billion, a price-to-earnings ratio of 1,383.14, a P/E/G ratio of 5.48 and a beta of 1.91.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings data 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). The firm had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Sell-side analysts anticipate that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal 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.