First Eagle Investment Management LLC Invests $131,000 in Warby Parker Inc. (NYSE:WRBY)

First Eagle Investment Management LLC acquired a new position in Warby Parker Inc. (NYSE:WRBY) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,159 shares of the company’s stock, valued at approximately $131,000.

A number of other hedge funds have also recently made changes to their positions in the business. Hsbc Holdings PLC boosted its stake in shares of Warby Parker by 11.5% in the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock worth $413,000 after acquiring an additional 2,651 shares during the period. Renaissance Technologies LLC lifted its position in shares of Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after buying an additional 481,900 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 308,472 shares in the last quarter. Choreo LLC purchased a new stake in shares of Warby Parker in the second quarter worth about $167,000. Finally, Quest Partners LLC lifted its position in shares of Warby Parker by 30.0% in the second quarter. Quest Partners LLC now owns 23,791 shares of the company’s stock worth $382,000 after buying an additional 5,497 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Insider Activity

In other news, 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 transaction, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Steven Clive Miller sold 6,763 shares of the 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 transaction, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $169,138.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. Loop Capital boosted their target price on Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus boosted their target price on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Piper Sandler initiated coverage on Warby Parker in a research report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective on the stock. Finally, JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

Warby Parker Stock Performance

WRBY opened at $14.28 on Friday. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -30.38 and a beta of 1.80. The stock’s 50 day moving average price is $14.85 and its 200-day moving average price is $14.60. Warby Parker Inc. has a one year low of $9.83 and a one year high of $17.95.

Warby Parker (NYSE:WRBY) last released its 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. The firm had revenue of $188.22 million for the quarter, compared to analysts’ expectations of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. As a group, 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.