Knights of Columbus Asset Advisors LLC Sells 36,022 Shares of Warby Parker Inc. $WRBY

Knights of Columbus Asset Advisors LLC lowered its holdings in Warby Parker Inc. (NYSE:WRBY) by 42.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,885 shares of the company’s stock after selling 36,022 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Warby Parker were worth $1,043,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. First Horizon Corp boosted its position in shares of Warby Parker by 96.7% in the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after acquiring an additional 595 shares during the period. Eagle Bay Advisors LLC acquired a new position in Warby Parker during the 4th quarter valued at $35,000. Farther Finance Advisors LLC raised its stake in Warby Parker by 41.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after purchasing an additional 494 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Warby Parker by 56.7% in the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock valued at $65,000 after purchasing an additional 850 shares during the period. Finally, Covestor Ltd grew its position in Warby Parker by 5,795.3% in the 4th quarter. Covestor Ltd now owns 2,535 shares of the company’s stock worth $55,000 after purchasing an additional 2,492 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Stock Up 0.1%

Shares of WRBY opened at $25.72 on Friday. The company has a 50-day moving average price of $23.83 and a two-hundred day moving average price of $23.78. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 1,286.39 and a beta of 1.95. Warby Parker Inc. has a 12 month low of $14.96 and a 12 month high of $31.00.

Warby Parker (NYSE:WRBY) last announced 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 net margin of 0.15% and a return on equity of 2.30%. The company had revenue of $242.45 million during the quarter, compared to analyst estimates of $239.44 million. During the same period in the prior year, the firm earned $0.03 EPS. Warby Parker’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts expect that Warby Parker Inc. will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 63,040 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $30.03, for a total value of $1,893,091.20. Following the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at approximately $1,506,454.95. This represents a 55.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 4,833 shares of Warby Parker stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $29.01, for a total transaction of $140,205.33. Following the transaction, the director directly owned 100,000 shares of the company’s stock, valued at $2,901,000. This represents a 4.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 203,833 shares of company stock worth $5,509,808 in the last 90 days. 16.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group increased their target price 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. Piper Sandler reiterated an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. BTIG Research upped their target price on Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $29.50.

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.