ProShare Advisors LLC Has $185,000 Stock Position in Warby Parker Inc. (NYSE:WRBY)

ProShare Advisors LLC cut its stake in shares of Warby Parker Inc. (NYSE:WRBY) by 25.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,534 shares of the company’s stock after selling 3,936 shares during the period. ProShare Advisors LLC’s holdings in Warby Parker were worth $185,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WRBY. Vanguard Group Inc. boosted its holdings in shares of Warby Parker by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock valued at $118,095,000 after buying an additional 219,120 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Warby Parker by 113.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock valued at $39,787,000 after acquiring an additional 1,315,672 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in Warby Parker by 149.4% in the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock valued at $22,970,000 after acquiring an additional 1,011,030 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after acquiring an additional 481,900 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Warby Parker by 29.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after purchasing an additional 308,472 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Stock Performance

WRBY opened at $16.10 on Friday. The stock has a fifty day moving average of $14.69 and a 200-day moving average of $14.84. The company has a market capitalization of $1.62 billion, a P/E ratio of -34.26 and a beta of 1.82. Warby Parker Inc. has a fifty-two week low of $9.83 and a fifty-two week high of $17.95.

Warby Parker (NYSE:WRBY) last announced its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. On average, equities research analysts predict that Warby Parker Inc. will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bradley E. Singer bought 50,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the transaction, the director now owns 100,000 shares in the company, valued at $1,300,000. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 purchased at an average cost of $13.00 per share, with a total value of $650,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $1,300,000. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 in the last 90 days. Company insiders own 26.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research note on Thursday, August 8th. Loop Capital lifted their target price on Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, July 10th. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, August 23rd. Piper Sandler started coverage on shares of Warby Parker in a research report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on shares of Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Warby Parker currently has an average rating of “Moderate Buy” and a consensus target price of $16.75.

About Warby Parker

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.