81,924 Shares in Warby Parker Inc. $WRBY Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC acquired a new stake in Warby Parker Inc. (NYSE:WRBY) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 81,924 shares of the company’s stock, valued at approximately $1,726,000. Granahan Investment Management LLC owned about 0.08% of Warby Parker at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Man Group plc grew its stake in shares of Warby Parker by 1.6% during the second quarter. Man Group plc now owns 25,095 shares of the company’s stock worth $550,000 after purchasing an additional 400 shares in the last quarter. Farther Finance Advisors LLC raised 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 buying an additional 494 shares in the last quarter. First Horizon Corp raised its stake in Warby Parker by 96.7% in the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after buying an additional 595 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in Warby Parker by 5.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 15,899 shares of the company’s stock worth $349,000 after buying an additional 819 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Warby Parker by 6.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 13,435 shares of the company’s stock worth $293,000 after buying an additional 845 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 217,667 shares of Warby Parker stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $29.61, for a total transaction of $6,445,119.87. Following the transaction, the chief executive officer owned 31,112 shares of the company’s stock, valued at $921,226.32. The trade was a 87.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Teresa Briggs sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total value of $129,700.00. Following the completion of the sale, the director directly owned 48,883 shares of the company’s stock, valued at $1,268,025.02. The trade was a 9.28% 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. In the last ninety days, insiders sold 366,207 shares of company stock worth $10,814,738. 16.80% of the stock is currently owned by corporate insiders.

Warby Parker Price Performance

NYSE WRBY opened at $24.52 on Friday. The company has a fifty day moving average of $26.32 and a two-hundred day moving average of $25.12. The company has a market capitalization of $2.63 billion, a PE ratio of 1,226.86, a P/E/G ratio of 4.91 and a beta of 1.91. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. During the same quarter last year, the firm posted $0.03 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, research analysts expect that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. BTIG Research boosted 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. Telsey Advisory Group upped their price target on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Bank of America started coverage on shares of Warby Parker in a research note on Monday, June 29th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Warby Parker currently has an average rating of “Moderate Buy” and an average price target of $29.82.

About Warby Parker

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.