Ardsley Advisory Partners LP Invests $577,000 in Warby Parker Inc. $WRBY

Ardsley Advisory Partners LP acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 26,500 shares of the company’s stock, valued at approximately $577,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Corp grew its holdings in shares of Warby Parker by 96.7% during the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after purchasing an additional 595 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Warby Parker in the fourth quarter worth approximately $35,000. Farther Finance Advisors LLC boosted its stake in 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 in the last quarter. NewEdge Advisors LLC boosted its stake in 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 in the last quarter. Finally, Covestor Ltd boosted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

Shares of WRBY stock opened at $24.31 on Thursday. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The stock has a 50 day moving average price of $24.59 and a two-hundred day moving average price of $24.45. The company has a market capitalization of $2.60 billion, a P/E ratio of 1,215.91 and a beta of 1.96.

Warby Parker (NYSE:WRBY) last announced 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 net margin of 0.15% and a return on equity of 2.30%. The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’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 earnings per share for the current year.

Analyst Ratings Changes

WRBY has been the subject of several research reports. BTIG Research upped their target price on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Telsey Advisory Group upped 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, UBS Group upped their target price 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 analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Warby Parker presently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Insider Buying and Selling at Warby Parker

In related news, Director Youngme E. Moon sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.53, for a total transaction of $265,300.00. Following the completion of the transaction, the director owned 26,061 shares in the company, valued at $691,398.33. This represents a 27.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 63,040 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $30.03, for a total value of $1,893,091.20. Following the transaction, the chief executive officer owned 50,165 shares of the company’s stock, valued at approximately $1,506,454.95. This represents a 55.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 198,040 shares of company stock worth $5,340,326. 16.80% of the stock is currently owned by insiders.

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.