Quest Partners LLC Grows Position in Warby Parker Inc. (NYSE:WRBY)

Quest Partners LLC raised its position in Warby Parker Inc. (NYSE:WRBY) by 30.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,791 shares of the company’s stock after buying an additional 5,497 shares during the quarter. Quest Partners LLC’s holdings in Warby Parker were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in Warby Parker during the 4th quarter worth $160,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Warby Parker by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 612,448 shares of the company’s stock worth $8,636,000 after buying an additional 13,526 shares during the period. Jump Financial LLC purchased a new position in shares of Warby Parker during the fourth quarter worth about $208,000. Panagora Asset Management Inc. increased its position in Warby Parker by 0.4% in the 4th quarter. Panagora Asset Management Inc. now owns 198,671 shares of the company’s stock valued at $2,801,000 after acquiring an additional 847 shares during the period. Finally, Trexquant Investment LP raised its stake in Warby Parker by 15.1% during the 4th quarter. Trexquant Investment LP now owns 50,847 shares of the company’s stock valued at $717,000 after acquiring an additional 6,666 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research note on Thursday, August 8th. Loop Capital upped their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Friday, August 23rd. Finally, Piper Sandler initiated coverage on shares of Warby Parker in a report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Warby Parker has an average rating of “Moderate Buy” and an average target price of $17.11.

Insider Activity at Warby Parker

In other news, Director Bradley E. Singer bought 50,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at $1,300,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Warby Parker news, Director Bradley E. Singer bought 50,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at approximately $1,300,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $158,301. The disclosure for this sale can be found here. Insiders sold 99,178 shares of company stock valued at $1,339,901 in the last ninety days. Corporate insiders own 26.55% of the company’s stock.

Warby Parker Stock Up 2.1 %

NYSE:WRBY opened at $14.66 on Friday. Warby Parker Inc. has a fifty-two week low of $9.83 and a fifty-two week high of $17.95. The firm’s fifty day simple moving average is $14.95 and its 200-day simple moving average is $14.53. The stock has a market cap of $1.48 billion, a PE ratio of -31.18 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. The company had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. Equities analysts anticipate that Warby Parker Inc. will post -0.04 earnings per share for the current year.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.