Y Intercept Hong Kong Ltd Makes New $259,000 Investment in Warby Parker Inc. $WRBY

Y Intercept Hong Kong Ltd acquired a new position in Warby Parker Inc. (NYSE:WRBY) during the second quarter, HoldingsChannel reports. The institutional investor acquired 11,813 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds have also recently made changes to their positions in the company. Riverwater Partners LLC lifted its stake in Warby Parker by 131.3% in the second quarter. Riverwater Partners LLC now owns 58,344 shares of the company’s stock worth $1,279,000 after acquiring an additional 33,117 shares during the period. Kornitzer Capital Management Inc. KS bought a new position in Warby Parker in the 2nd quarter worth $2,873,000. Shaker Investments LLC OH lifted its position in shares of Warby Parker by 146.2% in the 2nd quarter. Shaker Investments LLC OH now owns 28,360 shares of the company’s stock worth $622,000 after purchasing an additional 16,839 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Warby Parker in the 2nd quarter worth about $217,000. Finally, New York State Teachers Retirement System increased its holdings in Warby Parker by 442.2% in the 2nd quarter. New York State Teachers Retirement System now owns 8,089 shares of the company’s stock worth $177,000 after buying an additional 6,597 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday. The Goldman Sachs Group raised their target price on shares of Warby Parker from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Evercore ISI reiterated a “positive” rating on shares of Warby Parker in a research note on Thursday, August 7th. Robert W. Baird set a $30.00 target price on shares of Warby Parker and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus increased their price target on shares of Warby Parker from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, August 8th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.53.

Insider Activity at Warby Parker

In related news, Director Joel E. Cutler sold 35,000 shares of the company’s stock in a transaction on 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 transaction, the director owned 19,932 shares of the company’s stock, valued at approximately $533,181. This represents a 63.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total value of $1,255,500.00. Following the completion of the sale, the chief executive officer owned 28,347 shares of the company’s stock, valued at $711,793.17. The trade was a 63.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 141,000 shares of company stock worth $3,709,521. 18.24% of the stock is owned by corporate insiders.

Warby Parker Trading Up 1.3%

Shares of NYSE:WRBY opened at $17.15 on Friday. The stock has a 50 day moving average of $24.19 and a 200 day moving average of $22.62. The company has a market cap of $1.80 billion, a PE ratio of 1,714.50 and a beta of 2.06. Warby Parker Inc. has a 12-month low of $13.63 and a 12-month high of $29.73.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $221.68 million for the quarter, compared to analysts’ expectations of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.98%. Warby Parker’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) EPS. Warby Parker has set its FY 2025 guidance at EPS. Equities research analysts predict that Warby Parker Inc. will post -0.12 earnings per share for the current fiscal year.

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.