Senator Investment Group LP Makes New Investment in Warby Parker Inc. $WRBY

Senator Investment Group LP bought a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 377,148 shares of the company’s stock, valued at approximately $8,218,000.

Other institutional investors have also modified their holdings of the company. First Horizon Corp boosted its holdings in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after buying an additional 595 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Warby Parker in the 4th quarter valued at about $35,000. Farther Finance Advisors LLC boosted its holdings in shares of Warby Parker by 41.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after buying an additional 494 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Warby Parker by 56.7% in the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock valued at $65,000 after buying an additional 850 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Warby Parker by 5,795.3% in the 4th quarter. Covestor Ltd now owns 2,535 shares of the company’s stock valued at $55,000 after buying an additional 2,492 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Bradley E. Singer sold 4,833 shares of Warby Parker stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total value of $140,205.33. Following the completion of the sale, the director directly owned 100,000 shares in the company, valued at $2,901,000. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $30.03, for a total transaction of $1,893,091.20. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at $1,506,454.95. This trade represents a 55.69% 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. Insiders sold 198,040 shares of company stock worth $5,340,326 in the last three months. Corporate insiders own 16.80% of the company’s stock.

Warby Parker Stock Down 0.3%

WRBY stock opened at $26.38 on Tuesday. The firm has a 50 day moving average of $24.43 and a 200 day moving average of $24.38. The stock has a market capitalization of $2.83 billion, a PE ratio of 1,319.81 and a beta of 1.96. Warby Parker Inc. has a 52 week low of $14.96 and a 52 week high of $31.00.

Warby Parker (NYSE:WRBY) last released its 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 company had revenue of $242.45 million during the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. On average, equities research analysts expect that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

WRBY has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. BTIG Research raised 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. 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 report on Friday, May 8th. Telsey Advisory Group raised their price target on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Citigroup restated a “market outperform” rating on shares of Warby Parker in a report on Friday, May 22nd. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Warby Parker presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

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.