AQR Capital Management LLC Takes $186,000 Position in Warby Parker Inc. (NYSE:WRBY)

AQR Capital Management LLC bought a new stake in Warby Parker Inc. (NYSE:WRBY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,559 shares of the company’s stock, valued at approximately $186,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its position in shares of 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 buying an additional 1,315,672 shares during the last quarter. Marshall Wace LLP grew its stake in Warby Parker by 1,013.4% during the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after buying an additional 1,295,136 shares during the period. TimesSquare Capital Management LLC grew its stake in Warby Parker by 149.4% during the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after buying an additional 1,011,030 shares during the period. Vanguard Group Inc. boosted its holdings in Warby Parker by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after purchasing an additional 607,352 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Warby Parker by 44.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after acquiring an additional 481,900 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Buying and Selling

In related news, Director Bradley E. Singer bought 50,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of $13.00 per share, with a total value of $650,000.00. Following the completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at $1,300,000. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $158,301. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradley E. Singer bought 50,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was bought 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 of the company’s stock, valued at approximately $1,300,000. The trade was a 100.00 % increase in their position. The disclosure for this purchase 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 owned by company insiders.

Warby Parker Stock Up 2.5 %

Shares of WRBY stock opened at $16.56 on Friday. The firm has a market cap of $1.64 billion, a PE ratio of -35.23 and a beta of 1.82. Warby Parker Inc. has a 12 month low of $9.83 and a 12 month high of $17.95. The company’s fifty day simple moving average is $14.87 and its 200-day simple moving average is $15.05.

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 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 business had revenue of $188.22 million for the quarter, compared to the consensus estimate of $186.89 million. On average, equities analysts predict that Warby Parker Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WRBY shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Warby Parker in a research report on Thursday, August 8th. Piper Sandler initiated coverage on shares of Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 target price for the company. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Friday, August 23rd. Loop Capital upped their price target 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. Finally, Stifel Nicolaus upped their price target 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.71.

Warby Parker 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.