Compass Wealth Management LLC Takes Position in Warby Parker Inc. $WRBY

Compass Wealth Management LLC purchased a new position in shares of Warby Parker Inc. (NYSE:WRBY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 79,193 shares of the company’s stock, valued at approximately $2,184,000. Compass Wealth Management LLC owned 0.08% of Warby Parker as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Warby Parker by 5.6% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 167,128 shares of the company’s stock worth $4,609,000 after purchasing an additional 8,855 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Warby Parker by 10.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 20,511 shares of the company’s stock worth $566,000 after buying an additional 1,984 shares during the period. New York State Teachers Retirement System grew its stake in Warby Parker by 10.1% in the 3rd quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock valued at $246,000 after buying an additional 816 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Warby Parker in the 3rd quarter valued at approximately $156,000. Finally, SG Americas Securities LLC raised its holdings in Warby Parker by 33.5% during the 3rd quarter. SG Americas Securities LLC now owns 8,407 shares of the company’s stock valued at $232,000 after acquiring an additional 2,111 shares during the period. 93.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WRBY has been the subject of several recent research reports. Stifel Nicolaus lifted their price target on Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, December 12th. BTIG Research lifted their target price on Warby Parker from $25.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citizens Jmp raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a report on Wednesday, December 10th. Piper Sandler raised their price objective on shares of Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warby Parker in a report on Monday, December 29th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.38.

Warby Parker Trading Up 3.8%

WRBY stock opened at $27.38 on Tuesday. The company’s 50 day moving average is $24.05 and its 200 day moving average is $24.00. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 2,738.40 and a beta of 2.05. Warby Parker Inc. has a 1-year low of $13.63 and a 1-year high of $31.00.

Warby Parker (NYSE:WRBY) last announced its 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). The company had revenue of $221.68 million for the quarter, compared to the consensus estimate of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, sell-side analysts forecast that Warby Parker Inc. will post -0.12 EPS for the current fiscal year.

Insider Activity at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 150,000 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at approximately $931,315.71. This represents a 80.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Youngme E. Moon sold 38,832 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the completion of the sale, the director owned 27,057 shares of the company’s stock, valued at $786,546.99. The trade was a 58.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 359,424 shares of company stock valued at $9,813,571 over the last 90 days. 18.24% of the stock is owned by insiders.

Warby Parker 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.