Connor Clark & Lunn Investment Management Ltd. Purchases 17,628 Shares of Warby Parker Inc. $WRBY

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Warby Parker Inc. (NYSE:WRBY) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 297,031 shares of the company’s stock after purchasing an additional 17,628 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.28% of Warby Parker worth $6,514,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WRBY. Los Angeles Capital Management LLC boosted its stake in shares of Warby Parker by 34.4% during the second quarter. Los Angeles Capital Management LLC now owns 30,524 shares of the company’s stock valued at $669,000 after purchasing an additional 7,810 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Warby Parker by 33.6% during the second quarter. First Eagle Investment Management LLC now owns 561,144 shares of the company’s stock valued at $12,306,000 after purchasing an additional 141,070 shares in the last quarter. Savant Capital LLC purchased a new position in Warby Parker in the second quarter valued at about $531,000. Huntington National Bank raised its holdings in Warby Parker by 111.0% in the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after purchasing an additional 881 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Warby Parker by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock valued at $57,133,000 after buying an additional 884,035 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Trading Up 0.4%

NYSE WRBY opened at $17.46 on Thursday. The stock has a fifty day simple moving average of $23.69 and a 200-day simple moving average of $22.66. The stock has a market cap of $1.85 billion, a PE ratio of 1,745.50 and a beta of 2.06. Warby Parker Inc. has a twelve month low of $13.63 and a twelve month high of $29.73.

Warby Parker (NYSE:WRBY) last announced its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The company had revenue of $221.68 million for the quarter, compared to analysts’ expectations of $224.49 million. During the same period last year, the business earned ($0.03) EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Warby Parker has set its FY 2025 guidance at EPS. Research analysts predict that Warby Parker Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 8,416 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.52, for a total transaction of $231,608.32. Following the sale, the chief executive officer directly owned 32,733 shares in the company, valued at $900,812.16. This represents a 20.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joel E. Cutler sold 35,000 shares of Warby Parker stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $26.75, for a total transaction of $936,250.00. Following the completion of the transaction, the director owned 19,932 shares of the company’s stock, valued at $533,181. This trade represents a 63.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 85,000 shares of company stock worth $2,312,661 in the last quarter. Company insiders own 18.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on WRBY shares. BTIG Research lowered their price target on Warby Parker from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. UBS Group cut their price objective on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Telsey Advisory Group reduced their target price on shares of Warby Parker from $28.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Stifel Nicolaus raised their target price on Warby Parker from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 6th. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.53.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.