Warby Parker Inc. $WRBY Shares Sold by Ranger Investment Management L.P.

Ranger Investment Management L.P. decreased its stake in Warby Parker Inc. (NYSE:WRBY) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 990,450 shares of the company’s stock after selling 21,760 shares during the quarter. Warby Parker makes up 1.9% of Ranger Investment Management L.P.’s holdings, making the stock its 20th biggest position. Ranger Investment Management L.P. owned about 0.94% of Warby Parker worth $27,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Penserra Capital Management LLC acquired a new position in Warby Parker during the third quarter worth $405,000. State of Wyoming acquired a new position in shares of Warby Parker during the 3rd quarter valued at about $135,000. Arizona State Retirement System grew its holdings in shares of Warby Parker by 8.3% in the third quarter. Arizona State Retirement System now owns 26,285 shares of the company’s stock valued at $725,000 after purchasing an additional 2,004 shares during the period. Ballentine Partners LLC acquired a new stake in Warby Parker during the third quarter worth about $214,000. Finally, Compass Wealth Management LLC purchased a new position in Warby Parker during the third quarter worth about $2,184,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Warby Parker

In other news, Director Joel E. Cutler sold 19,932 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total transaction of $518,431.32. Following the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $520,200. This represents a 49.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Youngme E. Moon sold 38,832 shares of Warby Parker stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $29.07, for a total value of $1,128,846.24. Following the completion of the transaction, the director owned 27,057 shares of the company’s stock, valued at approximately $786,546.99. This trade represents a 58.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 359,424 shares of company stock worth $9,813,571. Corporate insiders own 18.24% of the company’s stock.

Warby Parker Trading Up 3.9%

WRBY stock opened at $24.74 on Friday. The business’s fifty day moving average price is $25.24 and its 200 day moving average price is $24.14. Warby Parker Inc. has a 12-month low of $13.63 and a 12-month high of $31.00. The company has a market capitalization of $2.62 billion, a PE ratio of 2,478.30 and a beta of 2.05.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. Research analysts predict that Warby Parker Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Piper Sandler increased their price target on shares of Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research report on Monday, December 29th. Wall Street Zen downgraded Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. BTIG Research increased their price target on Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Stifel Nicolaus boosted their price objective on shares of Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a report on Friday, December 12th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Warby Parker presently has an average rating of “Moderate Buy” and an average price target of $27.38.

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.