Algert Global LLC Grows Position in Warby Parker Inc. (NYSE:WRBY)

Algert Global LLC grew its stake in Warby Parker Inc. (NYSE:WRBY) by 81.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,346 shares of the company’s stock after buying an additional 18,154 shares during the period. Algert Global LLC’s holdings in Warby Parker were worth $648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Driehaus Capital Management LLC raised its stake in Warby Parker by 43.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock worth $12,952,000 after acquiring an additional 246,011 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Warby Parker by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock worth $717,000 after purchasing an additional 3,007 shares during the period. Millennium Management LLC boosted its position in Warby Parker by 26.6% in the second quarter. Millennium Management LLC now owns 299,151 shares of the company’s stock valued at $4,804,000 after buying an additional 62,865 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Warby Parker in the 2nd quarter worth approximately $1,465,000. Finally, AQR Capital Management LLC purchased a new position in Warby Parker during the 2nd quarter worth approximately $186,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Friday, August 23rd. Loop Capital increased their price target on Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler began coverage on Warby Parker in a report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 price objective for the company. 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. Finally, Stifel Nicolaus boosted their price target on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.75.

Warby Parker Trading Up 3.8 %

Shares of WRBY stock opened at $16.10 on Friday. The company has a market capitalization of $1.62 billion, a P/E ratio of -34.26 and a beta of 1.82. The business’s 50 day moving average is $14.69 and its two-hundred day moving average is $14.84. Warby Parker Inc. has a 12-month low of $9.83 and a 12-month high of $17.95.

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

Insiders Place Their Bets

In other Warby Parker news, Director Bradley E. Singer bought 50,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $13.00 per share, with a total value of $650,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at $1,300,000. This trade represents a 100.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Bradley E. Singer bought 50,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $1,300,000. This represents a 100.00 % increase 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 27,143 shares of Warby Parker stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock valued at $1,339,901 in the last 90 days. 26.55% of the stock is owned by insiders.

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.