Caitong International Asset Management Co. Ltd Acquires New Holdings in Warby Parker Inc. $WRBY

Caitong International Asset Management Co. Ltd bought a new position in shares of Warby Parker Inc. (NYSE:WRBY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 35,226 shares of the company’s stock, valued at approximately $768,000.

A number of other institutional investors have also made changes to their positions in WRBY. Vanguard Group Inc. boosted its stake in Warby Parker by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after acquiring an additional 327,830 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Warby Parker by 32.5% during the fourth quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock worth $210,907,000 after buying an additional 2,375,726 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Warby Parker by 17.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,594,171 shares of the company’s stock worth $56,527,000 after purchasing an additional 381,071 shares during the period. State Street Corp boosted its position in Warby Parker by 9.2% during the fourth quarter. State Street Corp now owns 2,408,610 shares of the company’s stock worth $52,484,000 after purchasing an additional 202,029 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Warby Parker by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,297,123 shares of the company’s stock valued at $50,064,000 after purchasing an additional 11,736 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Teresa Briggs sold 5,000 shares of Warby Parker stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $25.94, for a total transaction of $129,700.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 4,833 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $29.01, for a total transaction of $140,205.33. Following the completion of the transaction, the director directly owned 100,000 shares of the company’s stock, valued at approximately $2,901,000. The trade was a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 203,040 shares of company stock valued at $5,470,026. Insiders own 16.80% of the company’s stock.

Analyst Upgrades and Downgrades

WRBY has been the topic of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. UBS Group raised their price target on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BTIG Research lifted their price target on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Finally, Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Warby Parker Stock Down 0.1%

Shares of NYSE:WRBY opened at $25.95 on Friday. The business’s 50 day moving average is $24.78 and its 200 day moving average is $24.51. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 1,298.00 and a beta of 1.96. Warby Parker Inc. has a 12-month low of $14.96 and a 12-month high of $31.00.

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

Warby Parker Company 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.