K.J. Harrison & Partners Inc Makes New $1.31 Million Investment in Warby Parker Inc. $WRBY

K.J. Harrison & Partners Inc acquired a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 60,000 shares of the company's stock, valued at approximately $1,307,000. K.J. Harrison & Partners Inc owned approximately 0.06% of Warby Parker at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Compass Wealth Management LLC purchased a new position in shares of Warby Parker during the third quarter worth approximately $2,184,000. Impax Asset Management Group plc grew its position in shares of Warby Parker by 28.3% during the third quarter. Impax Asset Management Group plc now owns 385,000 shares of the company's stock worth $10,618,000 after acquiring an additional 85,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Warby Parker by 40.9% during the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company's stock worth $201,426,000 after acquiring an additional 2,120,768 shares during the last quarter. Udine Wealth Management Inc. purchased a new position in shares of Warby Parker during the fourth quarter worth approximately $1,284,000. Finally, Kingdon Capital Management L.L.C. purchased a new position in shares of Warby Parker during the third quarter worth approximately $9,653,000. Institutional investors and hedge funds own 93.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WRBY. Telsey Advisory Group restated an "outperform" rating and set a $32.00 target price on shares of Warby Parker in a research report on Friday, February 20th. UBS Group restated a "neutral" rating and set a $20.00 target price on shares of Warby Parker in a research report on Wednesday, February 25th. Weiss Ratings lowered shares of Warby Parker from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, March 2nd. Finally, Citigroup lifted 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. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.09.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $21.98 on Thursday. The firm has a market capitalization of $2.35 billion, a P/E ratio of 1,099.70 and a beta of 1.95. Warby Parker Inc. has a one year low of $14.96 and a one year high of $31.00. The company's fifty day moving average is $23.21 and its two-hundred day moving average is $23.04.

Warby Parker (NYSE:WRBY - Get Free Report) last issued its 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). The company had revenue of $242.45 million for the quarter, compared to analysts' expectations of $239.44 million. Warby Parker had a return on equity of 2.22% and a net margin of 0.19%. On average, sell-side analysts forecast that Warby Parker Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Warby Parker

In other news, Director Bradley E. Singer sold 15,793 shares of Warby Parker stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $27.53, for a total transaction of $434,781.29. Following the completion of the transaction, the director owned 16,026 shares of the company's stock, valued at $441,195.78. The trade was a 49.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 22,442 shares of Warby Parker stock in a transaction on Monday, April 20th. The stock was sold at an average price of $25.09, for a total value of $563,069.78. Following the transaction, the chief executive officer directly owned 50,165 shares of the company's stock, valued at $1,258,639.85. This trade represents a 30.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 115,793 shares of company stock worth $2,901,550 over the last 90 days. Insiders own 18.24% of the company's stock.

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.

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