Vaughan Nelson Investment Management L.P. Grows Position in Warby Parker Inc. $WRBY

Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 31.3% in the 1st quarter, Holdings Channel reports. The firm owned 3,028,307 shares of the company’s stock after acquiring an additional 722,627 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Warby Parker were worth $63,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Udine Wealth Management Inc. bought a new stake in Warby Parker during the fourth quarter valued at approximately $1,284,000. Kingdon Capital Management L.L.C. bought a new position in shares of Warby Parker in the 3rd quarter worth $9,653,000. Vanguard Group Inc. lifted its holdings in shares of Warby Parker by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after acquiring an additional 327,830 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Warby Parker by 13.1% during the 3rd quarter. Natixis Advisors LLC now owns 410,540 shares of the company’s stock worth $11,323,000 after acquiring an additional 47,536 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Warby Parker in the third quarter worth $2,250,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

WRBY stock opened at $25.95 on Monday. Warby Parker Inc. has a 52 week low of $14.96 and a 52 week high of $31.00. The firm’s fifty day moving average is $24.78 and its 200 day moving average is $24.55. The firm has a market cap of $2.78 billion, a P/E ratio of 1,298.00 and a beta of 1.96.

Warby Parker (NYSE:WRBY) last issued 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). The business had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.Warby Parker’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. As a group, analysts forecast that Warby Parker Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling

In other news, Director Teresa Briggs sold 5,000 shares of Warby Parker stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $25.94, for a total value of $129,700.00. Following the transaction, the director owned 48,883 shares in the company, valued at approximately $1,268,025.02. The trade was a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Youngme E. Moon sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $26.53, for a total value of $265,300.00. Following the completion of the sale, the director directly owned 26,061 shares of the company’s stock, valued at approximately $691,398.33. This trade represents a 27.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 203,040 shares of company stock valued at $5,470,026 over the last three months. 16.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WRBY has been the topic of a number of research analyst reports. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. UBS Group raised their price objective on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Telsey Advisory Group raised their price objective on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Warby Parker presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

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.