TimesSquare Capital Management LLC Grows Holdings in Warby Parker Inc. $WRBY

TimesSquare Capital Management LLC increased its position in shares of Warby Parker Inc. (NYSE:WRBY) by 34.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,353,554 shares of the company’s stock after buying an additional 344,879 shares during the period. TimesSquare Capital Management LLC’s holdings in Warby Parker were worth $29,494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WRBY. AQR Capital Management LLC increased its position in shares of Warby Parker by 101.0% in the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after purchasing an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Warby Parker by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after purchasing an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after purchasing an additional 929,073 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Warby Parker in the 1st quarter worth about $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Warby Parker by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after buying an additional 38,395 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

WRBY has been the subject of a number of recent research reports. BTIG Research boosted their price objective on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Citigroup boosted their price objective on shares of Warby Parker from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Telsey Advisory Group boosted their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, UBS Group boosted their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Warby Parker has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Insider Buying and Selling

In other news, CEO Neil Harris Blumenthal sold 22,442 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $25.09, for a total value of $563,069.78. Following the completion of the sale, the chief executive officer directly owned 50,165 shares of the company’s stock, valued at approximately $1,258,639.85. This represents a 30.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 4,833 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $29.01, for a total transaction of $140,205.33. Following the completion of the sale, the director directly owned 100,000 shares of the company’s stock, valued at approximately $2,901,000. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 140,793 shares of company stock valued at $3,616,716. Company insiders own 16.80% of the company’s stock.

Warby Parker Stock Down 0.2%

Warby Parker stock opened at $28.66 on Tuesday. The firm has a 50-day moving average price of $23.70 and a two-hundred day moving average price of $23.43. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 1,433.77 and a beta of 1.95. Warby Parker Inc. has a 52-week low of $14.96 and a 52-week high of $31.00.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The firm had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. Research analysts expect that Warby Parker Inc. will post 0.24 earnings per share for the current year.

About Warby Parker

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.