Warby Parker Inc. $WRBY Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 74.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 456,791 shares of the company’s stock after selling 1,344,829 shares during the period. Baillie Gifford & Co. owned approximately 0.43% of Warby Parker worth $12,598,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Ranger Investment Management L.P. acquired a new stake in shares of Warby Parker during the 2nd quarter valued at $22,198,000. New York State Common Retirement Fund grew its holdings in shares of Warby Parker by 1,112.3% in the 2nd quarter. New York State Common Retirement Fund now owns 353,091 shares of the company’s stock worth $7,743,000 after acquiring an additional 323,965 shares during the last quarter. Atika Capital Management LLC acquired a new stake in shares of Warby Parker during the second quarter worth $982,000. Russell Investments Group Ltd. raised its position in shares of Warby Parker by 209.8% during the second quarter. Russell Investments Group Ltd. now owns 356,372 shares of the company’s stock worth $7,815,000 after purchasing an additional 241,357 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 105.5% during 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 purchasing an additional 1,137,970 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WRBY has been the topic of a number of analyst reports. Citigroup raised Warby Parker from a “hold” rating to an “outperform” rating in a research note on Wednesday, December 10th. BTIG Research raised their target price on shares of Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Wall Street Zen lowered shares of Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Robert W. Baird set a $35.00 price target on shares of Warby Parker in a research report on Wednesday, December 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Warby Parker from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.38.

Warby Parker Stock Down 1.5%

Shares of NYSE:WRBY opened at $26.36 on Friday. The firm has a fifty day moving average of $23.83 and a two-hundred day moving average of $23.95. Warby Parker Inc. has a 12-month low of $13.63 and a 12-month high of $31.00. The firm has a market capitalization of $2.79 billion, a P/E ratio of 2,635.70 and a beta of 2.05.

Warby Parker (NYSE:WRBY) last posted 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 return on equity of 1.96% and a net margin of 0.08%.The company had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. The company’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Equities research analysts expect that Warby Parker Inc. will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Youngme E. Moon sold 38,832 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the completion of the sale, the director directly owned 27,057 shares of the company’s stock, valued at $786,546.99. This trade represents a 58.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 150,000 shares of Warby Parker stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $25.09, for a total value of $3,763,500.00. Following the sale, the chief executive officer owned 37,119 shares of the company’s stock, valued at approximately $931,315.71. This represents a 80.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 359,424 shares of company stock valued at $9,813,571 in the last three months. Insiders own 18.24% of the company’s stock.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.