Warby Parker Inc. $WRBY Stock: State of Alaska Department of Revenue Decreases Stake

State of Alaska Department of Revenue cut its holdings in Warby Parker Inc. (NYSE:WRBY) by 32.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in shares of Warby Parker by 105.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after buying an additional 673 shares during the last quarter. GAMMA Investing LLC boosted its position in Warby Parker by 53.7% in the third quarter. GAMMA Investing LLC now owns 1,339 shares of the company’s stock valued at $37,000 after buying an additional 468 shares during the last quarter. Parallel Advisors LLC boosted its position in Warby Parker by 110.7% in the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock valued at $39,000 after buying an additional 965 shares during the last quarter. Essential Partners LLC boosted its position in Warby Parker by 44.2% in the first quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock valued at $54,000 after buying an additional 788 shares during the last quarter. Finally, Nykredit A S acquired a new position in Warby Parker in the 2nd quarter worth approximately $126,000. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Up 2.5%

Shares of Warby Parker stock opened at $25.62 on Wednesday. The firm has a market cap of $2.77 billion, a PE ratio of 365.96, a price-to-earnings-growth ratio of 6.77 and a beta of 1.89. Warby Parker Inc. has a 52 week low of $14.96 and a 52 week high of $31.00. The business’s fifty day simple moving average is $25.30 and its 200-day simple moving average is $25.48.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WRBY shares. BTIG Research reissued a “buy” rating on shares of Warby Parker in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of Warby Parker in a research note on Thursday, September 17th. Bank of America began coverage on shares of Warby Parker in a report on Monday, June 29th. They issued a “buy” rating and a $33.00 target price on the stock. UBS Group increased their price target on shares of Warby Parker from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Finally, Citigroup restated a “market outperform” rating on shares of Warby Parker in a report on Thursday, September 17th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Blumenthal sold 100,000 shares of Warby Parker stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $27.69, for a total transaction of $2,769,000.00. Following the completion of the sale, the chief executive officer directly owned 36,020 shares in the company, valued at $997,393.80. This trade represents a 73.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.80% of the stock is currently owned by company insiders.

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.