Artisan Partners Limited Partnership Purchases New Holdings in Warby Parker Inc. $WRBY

Artisan Partners Limited Partnership purchased a new stake in shares of Warby Parker Inc. (NYSE:WRBY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,258,056 shares of the company’s stock, valued at approximately $27,589,000. Artisan Partners Limited Partnership owned 1.20% of Warby Parker as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Durable Capital Partners LP raised its position in shares of Warby Parker by 13.2% during the 1st quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company’s stock valued at $186,172,000 after acquiring an additional 1,194,558 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Warby Parker by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock worth $57,133,000 after purchasing an additional 884,035 shares during the period. American Century Companies Inc. increased its holdings in Warby Parker by 14.6% in the first quarter. American Century Companies Inc. now owns 2,456,965 shares of the company’s stock valued at $44,790,000 after purchasing an additional 312,543 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Warby Parker by 105.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,216,320 shares of the company’s stock valued at $48,604,000 after buying an additional 1,137,970 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Warby Parker by 7.3% during the second quarter. Geode Capital Management LLC now owns 2,201,817 shares of the company’s stock worth $48,292,000 after buying an additional 148,847 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Trading Up 7.4%

NYSE:WRBY opened at $18.27 on Friday. Warby Parker Inc. has a 12 month low of $13.63 and a 12 month high of $29.73. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 1,827.00 and a beta of 2.06. The firm has a fifty day simple moving average of $22.37 and a two-hundred day simple moving average of $22.66.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $224.49 million. During the same period in the previous year, the business posted ($0.03) EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. Warby Parker has set its FY 2025 guidance at EPS. Equities analysts predict that Warby Parker Inc. will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on WRBY shares. Stifel Nicolaus increased their target price on Warby Parker from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, August 8th. Robert W. Baird set a $30.00 price objective on shares of Warby Parker and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warby Parker in a report on Wednesday. Cowen reaffirmed a “buy” rating on shares of Warby Parker in a report on Friday, August 8th. Finally, The Goldman Sachs Group upped their target price on Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.53.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 8,416 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.52, for a total value of $231,608.32. Following the transaction, the chief executive officer directly owned 32,733 shares in the company, valued at $900,812.16. The trade was a 20.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joel E. Cutler sold 35,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the sale, the director owned 19,932 shares in the company, valued at $533,181. This represents a 63.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 85,000 shares of company stock worth $2,312,661 over the last quarter. Company insiders own 18.24% of the company’s stock.

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.