New York State Common Retirement Fund Has $9.13 Million Stake in Warby Parker Inc. $WRBY

New York State Common Retirement Fund lessened its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 331,147 shares of the company’s stock after selling 21,944 shares during the period. New York State Common Retirement Fund owned about 0.31% of Warby Parker worth $9,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WRBY. Farther Finance Advisors LLC grew its position in 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 buying an additional 861 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Warby Parker by 400.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after acquiring an additional 1,281 shares during the period. Huntington National Bank lifted its position in shares of Warby Parker by 111.0% during the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after acquiring an additional 881 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Warby Parker during the 3rd quarter worth $156,000. Finally, State of Tennessee Department of Treasury acquired a new position in Warby Parker in the second quarter valued at about $126,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WRBY has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. BTIG Research increased their price target on shares of Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Citizens Jmp raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Wednesday, December 10th. Stifel Nicolaus upped their target price on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warby Parker in a report on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.38.

Insider Buying and Selling

In other news, Director Joel E. Cutler sold 19,932 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total value of $518,431.32. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $520,200. The trade was a 49.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 150,000 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $25.09, for a total value of $3,763,500.00. Following the sale, the chief executive officer owned 37,119 shares in the company, valued at approximately $931,315.71. The trade was a 80.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 359,424 shares of company stock valued at $9,813,571 over the last quarter. Insiders own 18.24% of the company’s stock.

Warby Parker Stock Performance

Shares of WRBY opened at $26.14 on Wednesday. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $31.00. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 2,613.60 and a beta of 2.05. The stock has a fifty day moving average of $25.02 and a 200-day moving average of $24.13.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The business had revenue of $221.68 million for the quarter, compared to the consensus estimate of $224.49 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts forecast that Warby Parker Inc. will post -0.12 EPS for the current year.

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.