Atika Capital Management LLC Sells 113,971 Shares of Warby Parker Inc. $WRBY

Atika Capital Management LLC cut its stake in shares of Warby Parker Inc. (NYSE:WRBY) by 45.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 135,000 shares of the company’s stock after selling 113,971 shares during the quarter. Atika Capital Management LLC’s holdings in Warby Parker were worth $2,844,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WRBY. JPMorgan Chase & Co. lifted its stake in shares of Warby Parker by 32.5% in the fourth quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock worth $210,907,000 after acquiring an additional 2,375,726 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in Warby Parker during the 4th quarter worth approximately $46,484,000. SRS Investment Management LLC bought a new position in Warby Parker during the 4th quarter worth approximately $31,277,000. Goldman Sachs Group Inc. lifted its position in shares of 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 purchasing an additional 929,073 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Warby Parker by 71.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,078,778 shares of the company’s stock worth $45,298,000 after purchasing an additional 865,345 shares during the period. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WRBY. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Bank of America assumed coverage on Warby Parker in a research report on Monday, June 29th. They set a “buy” rating and a $33.00 target price on the stock. Telsey Advisory Group raised their target price on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, BTIG Research lifted their target price on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.82.

Warby Parker Trading Down 0.8%

NYSE WRBY opened at $24.36 on Friday. The company has a fifty day simple moving average of $26.41 and a 200 day simple moving average of $25.13. Warby Parker Inc. has a 12-month low of $14.96 and a 12-month high of $31.00. The company has a market cap of $2.61 billion, a P/E ratio of 1,218.51, a PEG ratio of 4.91 and a beta of 1.91.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share 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 business had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. During the same quarter in the previous year, the company posted $0.03 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that Warby Parker Inc. will post 0.19 EPS for the current year.

Insider Buying and Selling at Warby Parker

In related news, Director Teresa Briggs sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total value of $129,700.00. Following the transaction, the director owned 48,883 shares of the company’s stock, valued at approximately $1,268,025.02. This trade represents a 9.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Harris Blumenthal sold 9,200 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $29.99, for a total value of $275,908.00. Following the transaction, the chief executive officer owned 31,112 shares in the company, valued at approximately $933,048.88. This trade represents a 22.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 366,207 shares of company stock worth $10,814,738. 16.80% of the stock is currently owned by insiders.

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.