SG Americas Securities LLC Invests $2.71 Million in Warby Parker Inc. $WRBY

Key Points

• SG Americas Securities LLC opened a new position in Warby Parker during the first quarter, buying 128,768 shares valued at about $2.71 million. The firm’s stake represented roughly 0.12% of the company.
• Warby Parker reported mixed quarterly results, with revenue of $242.45 million topping estimates but earnings per share of $0.03 missing expectations. Revenue still rose 8.4% year over year.
• Analyst sentiment remains mostly positive, with 10 Buy ratings and 5 Hold ratings and a consensus price target of $29.82. Several firms recently raised targets, including Bank of America, which began coverage with a Buy rating and a $33 target.

SG Americas Securities LLC acquired a new stake in Warby Parker Inc. (NYSE:WRBY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 128,768 shares of the company's stock, valued at approximately $2,713,000. SG Americas Securities LLC owned about 0.12% of Warby Parker at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of WRBY. Udine Wealth Management Inc. acquired a new stake in shares of Warby Parker in the fourth quarter valued at approximately $1,284,000. Kingdon Capital Management L.L.C. purchased a new stake in Warby Parker in the 3rd quarter valued at $9,653,000. Natixis Advisors LLC increased its stake in shares of Warby Parker by 13.1% in the 3rd quarter. Natixis Advisors LLC now owns 410,540 shares of the company's stock worth $11,323,000 after acquiring an additional 47,536 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in shares of Warby Parker by 34.2% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,353,554 shares of the company's stock worth $29,494,000 after acquiring an additional 344,879 shares during the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in shares of Warby Parker during the 4th quarter worth $1,028,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Trading Up 0.7%

NYSE WRBY opened at $30.33 on Wednesday. The stock has a fifty day simple moving average of $25.55 and a 200-day simple moving average of $24.88. The stock has a market cap of $3.25 billion, a PE ratio of 1,517.16 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 - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $242.45 million during the quarter, compared to analysts' expectations of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Research analysts predict that Warby Parker Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

WRBY has been the subject of a number of analyst reports. Weiss Ratings raised shares of Warby Parker from a "sell (d)" rating to a "hold (c-)" rating in a report on Monday, May 11th. UBS Group lifted their target price on shares of Warby Parker from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. BTIG Research boosted their target price on shares of Warby Parker from $32.00 to $34.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Citigroup reissued a "market outperform" rating on shares of Warby Parker in a research note on Friday, May 22nd. Finally, Bank of America began coverage on shares of Warby Parker in a report on Monday. They set a "buy" rating and a $33.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.82.

Insider Activity at Warby Parker

In related news, Director Bradley E. Singer sold 20,167 shares of Warby Parker stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $28.51, for a total value of $574,961.17. Following the completion of the sale, the director owned 104,833 shares in the company, valued at approximately $2,988,788.83. This trade represents a 16.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Youngme E. Moon sold 10,000 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.53, for a total value of $265,300.00. Following the transaction, the director owned 26,061 shares of the company's stock, valued at approximately $691,398.33. This represents a 27.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 203,040 shares of company stock valued at $5,470,026. 16.80% of the stock is owned by insiders.

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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