Choreo LLC Acquires Shares of 10,533 Warby Parker Inc. (NYSE:WRBY)

Choreo LLC bought a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the second quarter, according to its most recent filing with the SEC. The fund bought 10,533 shares of the company’s stock, valued at approximately $167,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new stake in Warby Parker in the fourth quarter worth about $160,000. Charles Schwab Investment Management Inc. increased its stake in shares of Warby Parker by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 612,448 shares of the company’s stock worth $8,636,000 after purchasing an additional 13,526 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Warby Parker in the 4th quarter worth approximately $208,000. Trexquant Investment LP lifted its stake in Warby Parker by 15.1% in the fourth quarter. Trexquant Investment LP now owns 50,847 shares of the company’s stock valued at $717,000 after purchasing an additional 6,666 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in Warby Parker by 55.1% during the fourth quarter. Verition Fund Management LLC now owns 722,179 shares of the company’s stock valued at $10,183,000 after purchasing an additional 256,618 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Trading Down 3.1 %

Warby Parker stock opened at $14.28 on Friday. Warby Parker Inc. has a 1-year low of $9.83 and a 1-year high of $17.95. The firm has a market capitalization of $1.42 billion, a PE ratio of -30.38 and a beta of 1.80. The firm’s 50 day simple moving average is $14.89 and its 200 day simple moving average is $14.57.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $186.89 million. Research analysts forecast that Warby Parker Inc. will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Neil Harris Blumenthal sold 27,143 shares of Warby Parker stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $352,859.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $158,301. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. The disclosure for this sale can be found here. Insiders sold a total of 99,178 shares of company stock worth $1,339,901 over the last ninety days. 26.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.