Maridea Wealth Management LLC Grows Stock Holdings in Warby Parker Inc. $WRBY

Maridea Wealth Management LLC raised its holdings in Warby Parker Inc. (NYSE:WRBY) by 179.3% in the 1st quarter, HoldingsChannel reports. The fund owned 112,581 shares of the company’s stock after acquiring an additional 72,275 shares during the period. Maridea Wealth Management LLC’s holdings in Warby Parker were worth $2,372,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in Warby Parker by 32.5% in the 4th quarter. JPMorgan Chase & Co. now owns 9,679,067 shares of the company’s stock worth $210,907,000 after buying an additional 2,375,726 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Warby Parker in the 4th quarter valued at $46,484,000. SRS Investment Management LLC acquired a new position in shares of Warby Parker during the 4th quarter valued at $31,277,000. Goldman Sachs Group Inc. lifted its holdings in shares of Warby Parker by 96.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after acquiring an additional 929,073 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Warby Parker by 71.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,078,778 shares of the company’s stock worth $45,298,000 after purchasing an additional 865,345 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Trading Up 5.9%

Shares of WRBY stock opened at $29.11 on Friday. The firm has a fifty day simple moving average of $25.30 and a 200-day simple moving average of $24.81. The company has a market capitalization of $3.12 billion, a PE ratio of 1,456.23 and a beta of 1.96. Warby Parker Inc. has a twelve month low of $14.96 and a twelve month high of $31.00.

Warby Parker (NYSE:WRBY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.03 earnings per share (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 firm had revenue of $242.45 million for the quarter, compared to analysts’ expectations of $239.44 million. During the same period last year, the firm earned $0.03 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts predict that Warby Parker Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, Director Bradley E. Singer sold 4,833 shares of the firm’s stock in a transaction dated 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 in the company, valued at $2,901,000. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 63,040 shares of Warby Parker stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $30.03, for a total value of $1,893,091.20. Following the sale, the chief executive officer directly owned 50,165 shares in the company, valued at approximately $1,506,454.95. The trade was a 55.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 203,040 shares of company stock valued at $5,470,026 over the last ninety days. Insiders own 16.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WRBY. Weiss Ratings upgraded Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Telsey Advisory Group upped their target price on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, UBS Group raised their target price on Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.50.

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.