Wellington Shields & Co. LLC Invests $493,000 in Warby Parker Inc. $WRBY

Wellington Shields & Co. LLC bought a new position in Warby Parker Inc. (NYSE:WRBY) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 22,625 shares of the company’s stock, valued at approximately $493,000.

Other institutional investors also recently modified their holdings of the company. First Horizon Corp increased its stake in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after acquiring an additional 595 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Warby Parker in the fourth quarter worth approximately $35,000. Farther Finance Advisors LLC boosted its holdings in shares of Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after buying an additional 494 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Warby Parker by 5,795.3% in the fourth quarter. Covestor Ltd now owns 2,535 shares of the company’s stock worth $55,000 after buying an additional 2,492 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after buying an additional 850 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Harris Blumenthal sold 63,040 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $30.03, for a total value of $1,893,091.20. Following the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at approximately $1,506,454.95. This trade represents a 55.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 4,833 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total value of $140,205.33. Following the completion of the transaction, the director owned 100,000 shares of the company’s stock, valued at $2,901,000. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 203,833 shares of company stock worth $5,509,808 in the last three months. 16.80% of the stock is currently owned by company insiders.

Warby Parker Trading Up 0.0%

NYSE:WRBY opened at $25.10 on Tuesday. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 1,255.63 and a beta of 1.95. The stock has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $23.61.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Warby Parker’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Sell-side analysts forecast that Warby Parker Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on WRBY. Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Piper Sandler restated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Telsey Advisory Group upped their target price on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. BTIG Research raised their price target on Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, UBS Group upped their price objective on Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.50.

Warby Parker Company Profile

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.