State of Alaska Department of Revenue Sells 21,893 Shares of Warby Parker Inc. $WRBY

State of Alaska Department of Revenue cut its position in Warby Parker Inc. (NYSE:WRBY) by 32.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,413 shares of the company’s stock after selling 21,893 shares during the quarter. State of Alaska Department of Revenue’s holdings in Warby Parker were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Ranger Investment Management L.P. acquired a new position in Warby Parker during the 2nd quarter worth about $30,949,000. Bank of America Corp DE boosted its holdings in Warby Parker by 30.9% during the 1st quarter. Bank of America Corp DE now owns 1,377,646 shares of the company’s stock valued at $29,027,000 after acquiring an additional 325,250 shares during the period. Atreides Management LP boosted its holdings in Warby Parker by 74.8% during the 1st quarter. Atreides Management LP now owns 686,995 shares of the company’s stock valued at $14,475,000 after acquiring an additional 293,910 shares during the period. Dimensional Fund Advisors LP grew its position in Warby Parker by 10.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,722,577 shares of the company’s stock valued at $36,291,000 after acquiring an additional 166,235 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Warby Parker in the 1st quarter valued at about $2,713,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Warby Parker

In related news, CEO Neil Blumenthal sold 100,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $27.69, for a total value of $2,769,000.00. Following the transaction, the chief executive officer owned 36,020 shares of the company’s stock, valued at $997,393.80. This represents a 73.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.80% of the company’s stock.

Analyst Ratings Changes

WRBY has been the subject of several recent research reports. Bank of America assumed coverage on shares of Warby Parker in a research note on Monday, June 29th. They issued a “buy” rating and a $33.00 price objective for the company. Roth Capital reiterated a “neutral” rating and set a $28.00 target price on shares of Warby Parker in a report on Wednesday, August 5th. Citizens Jmp cut their price objective on Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings upgraded Warby Parker from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft set a $29.00 target price on Warby Parker in a report on Thursday, September 17th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Warby Parker Stock Up 2.5%

Shares of Warby Parker stock opened at $25.62 on Wednesday. Warby Parker Inc. has a 52-week low of $14.96 and a 52-week high of $31.00. The company has a 50 day moving average of $25.30 and a 200 day moving average of $25.48. The company has a market capitalization of $2.77 billion, a P/E ratio of 365.96, a P/E/G ratio of 6.77 and a beta of 1.89.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. The firm had revenue of $235.51 million during the quarter, compared to analysts’ expectations of $237.98 million. During the same period in the prior year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, research analysts anticipate that Warby Parker Inc. will post 0.14 earnings per share for the current fiscal year.

About Warby Parker

Warby Parker Inc is an optical retailer that designs, manufactures and sells prescription eyeglasses, sunglasses, contact lenses and related accessories. The company offers its products through its website, mobile applications and a growing network of retail stores, combining online shopping with in-person services such as frame fitting and eye examinations.

Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker was established as a direct-to-consumer eyewear company.