Renaissance Technologies LLC Boosts Stock Position in Warby Parker Inc. (NYSE:WRBY)

Renaissance Technologies LLC raised its stake in Warby Parker Inc. (NYSE:WRBY) by 44.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,568,600 shares of the company’s stock after purchasing an additional 481,900 shares during the period. Renaissance Technologies LLC owned 1.58% of Warby Parker worth $25,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Warby Parker by 2.6% in the first quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock valued at $118,095,000 after purchasing an additional 219,120 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings 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 worth $39,787,000 after acquiring an additional 1,315,672 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings 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 worth $22,970,000 after acquiring an additional 1,011,030 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Warby Parker by 29.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,424 shares of the company’s stock worth $21,994,000 after acquiring an additional 308,472 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Warby Parker by 17.2% in the first quarter. Jennison Associates LLC now owns 1,000,138 shares of the company’s stock worth $13,612,000 after acquiring an additional 146,697 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Warby Parker

In related news, Director Bradley E. Singer purchased 50,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,300,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Steven Clive Miller sold 6,763 shares of the business’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 value of $94,005.70. Following the completion of the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at $2,467,083.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley E. Singer acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $13.00 per share, with a total value of $650,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $1,300,000. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is owned by company insiders.

Warby Parker Trading Up 1.2 %

Shares of NYSE:WRBY opened at $14.74 on Friday. Warby Parker Inc. has a 12-month low of $9.83 and a 12-month high of $17.95. The company has a market capitalization of $1.48 billion, a PE ratio of -31.35 and a beta of 1.80. The business has a 50 day moving average of $14.91 and a two-hundred day moving average of $14.57.

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

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.