Warby Parker Inc. $WRBY Position Lowered by Maverick Capital Ltd.

by · The Markets Daily

Maverick Capital Ltd. trimmed its position in Warby Parker Inc. (NYSE:WRBY – Free Report) by 35.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 179,628 shares of the company’s stock after selling 96,646 shares during the period. Maverick Capital Ltd.’s holdings in Warby Parker were worth $3,939,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WRBY. Cetera Investment Advisers bought a new position in Warby Parker during the 1st quarter worth approximately $319,000. Charles Schwab Investment Management Inc. raised its position in shares of Warby Parker by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 744,589 shares of the company’s stock valued at $13,574,000 after acquiring an additional 2,039 shares in the last quarter. Aigen Investment Management LP bought a new position in Warby Parker during the first quarter worth $216,000. Nuveen LLC bought a new position in Warby Parker during the first quarter worth $30,549,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Warby Parker in the first quarter worth $58,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Wall Street Analyst Weigh In

WRBY has been the topic of a number of research reports. Zacks Research raised shares of Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warby Parker in a research report on Monday. Wall Street Zen cut shares of Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Wednesday. Finally, BTIG Research upped their target price on Warby Parker from $25.00 to $32.00 and gave the company a “buy” rating in a report on Thursday. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and an average target price of $25.31.

Get Our Latest Research Report on Warby Parker

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 8,416 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.52, for a total transaction of $231,608.32. Following the completion of the transaction, the chief executive officer owned 32,733 shares in the company, valued at approximately $900,812.16. The trade was a 20.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 18.24% of the company’s stock.

Warby Parker Stock Up 2.1%

Warby Parker stock opened at $30.18 on Friday. Warby Parker Inc. has a 52-week low of $13.63 and a 52-week high of $31.00. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 3,018.00 and a beta of 2.06. The firm has a 50-day moving average price of $20.56 and a two-hundred day moving average price of $22.96.

Warby Parker (NYSE:WRBY – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The business had revenue of $221.68 million for the quarter, compared to the consensus estimate of $224.49 million. During the same period last year, the firm posted ($0.03) EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. Research analysts expect that Warby Parker Inc. will post -0.12 earnings per share for the current year.

Warby Parker Company Profile

(Free Report)

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.

Further Reading

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