Niles Investment Management LLC Invests $1.38 Million in Warby Parker Inc. $WRBY

Niles Investment Management LLC purchased a new position in shares of Warby Parker Inc. (NYSE:WRBY) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 63,169 shares of the company’s stock, valued at approximately $1,376,000. Warby Parker accounts for about 1.0% of Niles Investment Management LLC’s holdings, making the stock its 15th biggest position.

Several other large investors also recently modified their holdings of the stock. Man Group plc increased its stake in shares of Warby Parker by 1.6% during the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock worth $550,000 after purchasing an additional 400 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after purchasing an additional 494 shares during the last quarter. First Horizon Corp increased its stake in shares of Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after purchasing an additional 595 shares during the last quarter. Choreo LLC increased its stake in shares of Warby Parker by 4.6% during the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock worth $458,000 after purchasing an additional 728 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of Warby Parker by 5.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 15,899 shares of the company’s stock worth $349,000 after purchasing an additional 819 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Insider Transactions at Warby Parker

In other news, Director Youngme E. Moon sold 10,000 shares of Warby Parker stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $26.53, for a total transaction of $265,300.00. Following the sale, the director owned 26,061 shares of the company’s stock, valued at approximately $691,398.33. This trade represents a 27.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradley E. Singer sold 4,833 shares of Warby Parker stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $29.01, for a total value of $140,205.33. Following the sale, the director directly owned 100,000 shares in the company, valued at $2,901,000. The trade was a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 198,040 shares of company stock valued at $5,340,326. 16.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WRBY shares. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. UBS Group lifted their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Telsey Advisory Group lifted their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, BTIG Research lifted their price objective on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Warby Parker Stock Up 1.8%

Shares of NYSE WRBY opened at $26.32 on Friday. The business’s 50 day moving average is $24.31 and its two-hundred day moving average is $24.30. The company has a market cap of $2.82 billion, a P/E ratio of 1,316.86 and a beta of 1.96. Warby Parker Inc. has a 12 month low of $14.96 and a 12 month high of $31.00.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The business had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal year.

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.