Fiscal Wisdom Wealth Management LLC Purchases New Shares in Warby Parker Inc. $WRBY

Fiscal Wisdom Wealth Management LLC acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 27,279 shares of the company’s stock, valued at approximately $575,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Corp grew its stake in shares of 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 acquiring an additional 595 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Warby Parker during the 4th quarter worth approximately $35,000. Farther Finance Advisors LLC grew its position in shares of Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after purchasing an additional 494 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Warby Parker by 56.7% during the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after purchasing an additional 850 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Warby Parker by 5,795.3% during the fourth quarter. Covestor Ltd now owns 2,535 shares of the company’s stock worth $55,000 after purchasing an additional 2,492 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America assumed coverage on Warby Parker in a research report on Monday, June 29th. They set a “buy” rating and a $33.00 price target on the stock. BTIG Research upped their target price on Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Telsey Advisory Group increased their target price on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Finally, Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Warby Parker has an average rating of “Moderate Buy” and an average target price of $29.82.

Insider Activity at Warby Parker

In other news, Director Youngme E. Moon sold 10,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.53, for a total value of $265,300.00. Following the completion of the transaction, the director directly owned 26,061 shares in the company, valued at approximately $691,398.33. This represents a 27.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradley E. Singer sold 20,167 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $28.51, for a total value of $574,961.17. Following the sale, the director owned 104,833 shares in the company, valued at $2,988,788.83. This represents a 16.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 388,649 shares of company stock worth $11,377,807 in the last 90 days. 16.80% of the stock is currently owned by company insiders.

Warby Parker Stock Down 1.0%

Shares of WRBY stock opened at $27.62 on Friday. The business has a fifty day simple moving average of $26.77 and a 200 day simple moving average of $25.03. The company has a market cap of $2.96 billion, a P/E ratio of 1,381.89, a P/E/G ratio of 5.58 and a beta of 1.91. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00.

Warby Parker (NYSE:WRBY) last released its 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 the consensus estimate 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 was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 EPS. As a group, equities research analysts anticipate that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal 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.