Vaughan Nelson Investment Management L.P. Purchases 722,627 Shares of Warby Parker Inc. $WRBY

Key Points

• Vaughan Nelson Investment Management increased its Warby Parker stake by 31.3% in Q1, buying 722,627 shares and bringing its total holding to 3,028,307 shares valued at about $63.8 million.
• Warby Parker’s latest quarterly results showed EPS of $0.03, below analyst expectations of $0.11, while revenue came in at $242.45 million, slightly above estimates and up 8.4% year over year.
• Analyst sentiment remains generally positive, with the stock carrying a Moderate Buy consensus rating and a consensus price target of $29.50; meanwhile, insiders have sold shares recently, including two directors in May and June.

Vaughan Nelson Investment Management L.P. grew its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 31.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,028,307 shares of the company's stock after acquiring an additional 722,627 shares during the period. Vaughan Nelson Investment Management L.P. owned 2.84% of Warby Parker worth $63,806,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Corp boosted 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 valued at $26,000 after purchasing an additional 595 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Warby Parker during the fourth quarter worth approximately $35,000. Farther Finance Advisors LLC increased its holdings in Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company's stock worth $37,000 after purchasing an additional 494 shares in the last quarter. Covestor Ltd increased its holdings in Warby Parker by 5,795.3% in the fourth quarter. Covestor Ltd now owns 2,535 shares of the company's stock worth $55,000 after purchasing an additional 2,492 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company's stock valued at $65,000 after buying an additional 850 shares during the period. 93.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on WRBY shares. Piper Sandler restated an "overweight" rating on shares of Warby Parker in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Warby Parker from a "sell (d)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Telsey Advisory Group boosted their target price on shares of Warby Parker from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. UBS Group increased 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. Finally, BTIG Research raised their price target on shares of Warby Parker from $32.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.50.

Warby Parker Price Performance

Shares of NYSE WRBY opened at $25.95 on Monday. The stock has a market capitalization of $2.78 billion, a P/E ratio of 1,298.00 and a beta of 1.96. The company has a 50-day moving average price of $24.78 and a 200-day moving average price of $24.55. Warby Parker Inc. has a 1 year low of $14.96 and a 1 year high of $31.00.

Warby Parker (NYSE:WRBY - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.08). The firm 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 2.30% and a net margin of 0.15%.Warby Parker's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. As a group, equities research analysts anticipate that Warby Parker Inc. will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, Director Bradley E. Singer sold 4,833 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $29.01, for a total value of $140,205.33. Following the transaction, the director owned 100,000 shares of the company's stock, valued at approximately $2,901,000. The trade was a 4.61% decrease in their ownership of the stock. 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 company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $26.53, for a total value of $265,300.00. Following the completion of the transaction, the director owned 26,061 shares of the company's stock, valued at $691,398.33. This trade represents a 27.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 203,040 shares of company stock valued at $5,470,026. Insiders own 16.80% of the company's stock.

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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