The Manufacturers Life Insurance Company Increases Position in Warby Parker Inc. (NYSE:WRBY)

The Manufacturers Life Insurance Company lifted its holdings in Warby Parker Inc. (NYSE:WRBY) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,667 shares of the company’s stock after acquiring an additional 3,007 shares during the period. The Manufacturers Life Insurance Company’s holdings in Warby Parker were worth $717,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WRBY. Advisors Asset Management Inc. grew its position in shares of Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after buying an additional 2,276 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in Warby Parker in the second quarter worth approximately $131,000. Choreo LLC bought a new stake in shares of Warby Parker during the 2nd quarter worth $167,000. Sciencast Management LP bought a new stake in Warby Parker in the 1st quarter valued at $145,000. Finally, AQR Capital Management LLC acquired a new position in shares of Warby Parker in the 2nd quarter valued at $186,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the transaction, the chief financial officer now owns 184,251 shares of the company’s stock, valued at $2,395,263. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the transaction, the chief financial officer now directly owns 184,251 shares in the company, valued at $2,395,263. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $13.89, for a total value of $694,500.00. Following the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $169,138.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,178 shares of company stock valued at $1,339,901 over the last quarter. 26.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective on the stock. Loop Capital boosted their target price on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Friday, August 23rd. Stifel Nicolaus upped their target price on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.71.

Warby Parker Stock Performance

Shares of Warby Parker stock opened at $15.55 on Tuesday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -33.09 and a beta of 1.82. The stock has a 50 day moving average price of $14.70 and a 200-day moving average price of $15.00. Warby Parker Inc. has a one year low of $9.83 and a one year high of $17.95.

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

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.