Watershed Asset Management L.L.C. Purchases 26,500 Shares of Warby Parker Inc. $WRBY

Watershed Asset Management L.L.C. raised its position in shares of Warby Parker Inc. (NYSE:WRBY) by 60.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,500 shares of the company’s stock after purchasing an additional 26,500 shares during the period. Warby Parker makes up approximately 1.5% of Watershed Asset Management L.L.C.’s holdings, making the stock its 19th largest holding. Watershed Asset Management L.L.C.’s holdings in Warby Parker were worth $1,485,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after purchasing an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Warby Parker by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after buying an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after buying an additional 929,073 shares during the last quarter. Caxton Associates LLP bought a new stake in Warby Parker in the 1st quarter worth approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Warby Parker by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock worth $4,685,000 after buying an additional 38,395 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Telsey Advisory Group increased their target price on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Bank of America began coverage on Warby Parker in a research note on Monday, June 29th. They issued a “buy” rating and a $33.00 target price for the company. Finally, BTIG Research lifted their target price on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.82.

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 completion of the transaction, the director owned 48,883 shares of the company’s stock, valued at $1,268,025.02. The trade was a 9.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Youngme E. Moon sold 10,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director directly owned 26,061 shares in the company, valued at $691,398.33. This trade represents a 27.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 388,649 shares of company stock worth $11,377,807 over the last three months. 16.80% of the stock is owned by corporate insiders.

Warby Parker Stock Performance

Shares of WRBY stock opened at $26.46 on Friday. The business’s 50 day moving average price is $26.71 and its 200-day moving average price is $25.04. The firm has a market cap of $2.83 billion, a P/E ratio of 1,323.81, a P/E/G ratio of 5.51 and a beta of 1.91. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. During the same quarter last year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that Warby Parker Inc. will post 0.19 EPS for the current year.

Warby Parker 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.