Atika Capital Management LLC Sells 113,971 Shares of Warby Parker Inc. $WRBY

Atika Capital Management LLC cut its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 45.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,000 shares of the company's stock after selling 113,971 shares during the period. Atika Capital Management LLC owned about 0.13% of Warby Parker worth $2,844,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WRBY. First Horizon Corp increased its position 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. Eagle Bay Advisors LLC acquired a new stake in shares of Warby Parker in the 4th quarter valued at approximately $35,000. Farther Finance Advisors LLC boosted its holdings in shares of Warby Parker by 41.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company's stock valued at $37,000 after buying an additional 494 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Warby Parker by 110.7% in the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company's stock valued at $39,000 after buying an additional 965 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Warby Parker by 5,795.3% in the fourth quarter. Covestor Ltd now owns 2,535 shares of the company's stock valued at $55,000 after buying an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company's stock.

Warby Parker Price Performance

NYSE WRBY opened at $24.36 on Friday. Warby Parker Inc. has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The business has a fifty day moving average price of $26.41 and a two-hundred day moving average price of $25.13. The stock has a market capitalization of $2.61 billion, a PE ratio of 1,218.51, a PEG ratio of 4.91 and a beta of 1.91.

Warby Parker (NYSE:WRBY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.08). The company had revenue of $242.45 million during the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. As a group, sell-side analysts expect that Warby Parker Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Bradley E. Singer sold 20,167 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $28.51, for a total value of $574,961.17. Following the completion of the transaction, the director owned 104,833 shares of the company's stock, valued at $2,988,788.83. This represents a 16.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 217,667 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.61, for a total value of $6,445,119.87. Following the completion of the transaction, the chief executive officer owned 31,112 shares of the company's stock, valued at $921,226.32. This represents a 87.49% 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 a total of 366,207 shares of company stock valued at $10,814,738 over the last quarter. 16.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WRBY. BTIG Research boosted their price objective on shares of Warby Parker from $32.00 to $34.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Citigroup reiterated a "market outperform" rating on shares of Warby Parker in a research note on Friday, May 22nd. Piper Sandler reiterated an "overweight" rating on shares of Warby Parker in a report on Tuesday, May 19th. Weiss Ratings raised Warby Parker from a "sell (d)" rating to a "hold (c-)" rating in a research report on Monday, May 11th. Finally, UBS Group boosted their price target on Warby Parker from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.82.

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.

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