SG Americas Securities LLC Acquires New Position in Warby Parker Inc. $WRBY

SG Americas Securities LLC bought a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the 1st quarter, HoldingsChannel.com reports. The fund bought 128,768 shares of the company’s stock, valued at approximately $2,713,000.

A number of other hedge funds also recently added to or reduced their stakes in WRBY. AQR Capital Management LLC grew its stake in shares of Warby Parker by 101.0% in the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after acquiring an additional 86,053 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Warby Parker by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock valued at $961,000 after acquiring an additional 2,297 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Warby Parker by 96.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after acquiring an additional 929,073 shares in the last quarter. Caxton Associates LLP purchased a new position in Warby Parker in the first quarter valued at $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Warby Parker by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after purchasing an additional 38,395 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WRBY shares. Piper Sandler restated an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. UBS Group lifted their price objective on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BTIG Research boosted their price objective on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Bank of America began coverage on shares of Warby Parker in a report on Monday. They issued a “buy” rating and a $33.00 target price on the stock. Finally, Telsey Advisory Group lifted 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. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.82.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 75,213 shares of Warby Parker 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 sale, the chief executive officer owned 50,165 shares in the company, valued at approximately $1,232,052.40. The trade was a 59.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 20,167 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $28.51, for a total value of $574,961.17. Following the completion of the sale, the director directly owned 104,833 shares of the company’s stock, valued at $2,988,788.83. The trade was a 16.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 203,040 shares of company stock worth $5,470,026. Insiders own 16.80% of the company’s stock.

Warby Parker Stock Performance

NYSE:WRBY opened at $30.33 on Wednesday. The stock has a 50-day simple moving average of $25.55 and a 200-day simple moving average of $24.88. The stock has a market cap of $3.25 billion, a P/E ratio of 1,517.16 and a beta of 1.96. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00.

Warby Parker (NYSE:WRBY) last announced 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 business had revenue of $242.45 million during the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. On average, equities research analysts predict that Warby Parker Inc. will post 0.19 EPS for the current year.

Warby Parker Company 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.