New York State Common Retirement Fund Has $9.13 Million Stock Holdings in Warby Parker Inc. $WRBY

New York State Common Retirement Fund lowered its stake in shares of Warby Parker Inc. (NYSE:WRBY) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 331,147 shares of the company’s stock after selling 21,944 shares during the quarter. New York State Common Retirement Fund’s holdings in Warby Parker were worth $9,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WRBY. JPMorgan Chase & Co. increased its position in Warby Parker by 987.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company’s stock valued at $113,654,000 after buying an additional 4,706,148 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Warby Parker in the second quarter worth approximately $27,589,000. Ranger Investment Management L.P. acquired a new stake in Warby Parker in the second quarter valued at approximately $22,198,000. Goldman Sachs Group Inc. increased its holdings in shares of Warby Parker by 96.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock valued at $34,433,000 after acquiring an additional 929,073 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Warby Parker by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock worth $57,133,000 after purchasing an additional 884,035 shares during the period. Institutional investors own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WRBY shares. Robert W. Baird set a $35.00 price target on shares of Warby Parker in a research report on Wednesday, December 17th. UBS Group reduced their price objective on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Stifel Nicolaus boosted their target price on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. Citigroup raised shares of Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th. Finally, Wall Street Zen lowered Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.38.

Insider Buying and Selling

In other Warby Parker news, Director Joel E. Cutler sold 19,932 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total transaction of $518,431.32. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $520,200. This represents a 49.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Youngme E. Moon sold 38,832 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the transaction, the director owned 27,057 shares of the company’s stock, valued at $786,546.99. The trade was a 58.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 359,424 shares of company stock valued at $9,813,571. 18.24% of the stock is owned by company insiders.

Warby Parker Stock Up 0.4%

Warby Parker stock opened at $26.14 on Wednesday. Warby Parker Inc. has a 52 week low of $13.63 and a 52 week high of $31.00. The company’s 50 day moving average price is $25.02 and its two-hundred day moving average price is $24.13. The stock has a market cap of $2.76 billion, a P/E ratio of 2,613.60 and a beta of 2.05.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The business had revenue of $221.68 million during the quarter, compared to the consensus estimate of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. On average, equities analysts anticipate that Warby Parker Inc. will post -0.12 EPS for the current year.

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.