TimesSquare Capital Management LLC Lowers Stake in Warby Parker Inc. (NYSE:WRBY)

TimesSquare Capital Management LLC reduced its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 19.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,345,037 shares of the company's stock after selling 323,233 shares during the quarter. TimesSquare Capital Management LLC owned about 1.30% of Warby Parker worth $24,520,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. New York State Teachers Retirement System acquired a new stake in shares of Warby Parker in the 1st quarter valued at approximately $27,000. Northern Trust Corp raised its holdings in Warby Parker by 7.5% during the fourth quarter. Northern Trust Corp now owns 811,038 shares of the company's stock worth $19,635,000 after purchasing an additional 56,674 shares during the last quarter. SG Americas Securities LLC acquired a new position in Warby Parker during the first quarter worth $602,000. Raymond James Financial Inc. acquired a new position in Warby Parker during the fourth quarter worth $8,272,000. Finally, Jones Financial Companies Lllp raised its holdings in Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after purchasing an additional 1,028 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several research reports. Piper Sandler reaffirmed an "overweight" rating and set a $25.00 price objective (up from $20.00) on shares of Warby Parker in a report on Thursday, May 29th. JMP Securities reaffirmed a "market perform" rating on shares of Warby Parker in a report on Thursday, July 10th. TD Securities lifted their price objective on Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Citizens Jmp downgraded Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. Finally, Loop Capital reissued a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Warby Parker has an average rating of "Moderate Buy" and a consensus target price of $22.88.

Warby Parker Stock Up 2.6%

Shares of NYSE:WRBY traded up $0.59 during midday trading on Thursday, reaching $23.49. The company's stock had a trading volume of 421,504 shares, compared to its average volume of 1,995,776. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of -195.83 and a beta of 2.09. Warby Parker Inc. has a 1 year low of $12.46 and a 1 year high of $28.68. The business has a 50 day moving average price of $20.93 and a 200 day moving average price of $21.25.

Insider Activity at Warby Parker

In other news, Director Youngme E. Moon sold 33,073 shares of Warby Parker stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total value of $658,152.70. Following the completion of the sale, the director owned 53,869 shares of the company's stock, valued at $1,071,993.10. The trade was a 38.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.24% of the stock is currently owned by corporate insiders.

About Warby Parker

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.