Fiscal Wisdom Wealth Management LLC Invests $575,000 in Warby Parker Inc. $WRBY

Fiscal Wisdom Wealth Management LLC acquired a new position in Warby Parker Inc. (NYSE:WRBY) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,279 shares of the company’s stock, valued at approximately $575,000.

Several other large investors have also bought and sold shares of the stock. First Horizon Corp lifted its holdings in Warby Parker by 96.7% during the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after buying an additional 595 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Warby Parker in the fourth quarter valued at about $35,000. Farther Finance Advisors LLC increased its stake in shares of Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after buying an additional 494 shares during the period. Covestor Ltd raised its position in shares of Warby Parker by 5,795.3% during the fourth quarter. Covestor Ltd now owns 2,535 shares of the company’s stock worth $55,000 after acquiring an additional 2,492 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares during the period. 93.24% of the stock is owned by institutional investors.

Insider Activity at Warby Parker

In other Warby Parker news, Director Bradley E. Singer sold 4,833 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total value of $140,205.33. Following the completion of the sale, the director directly owned 100,000 shares in the company, valued at approximately $2,901,000. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa Briggs sold 5,000 shares of Warby Parker stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total transaction of $129,700.00. Following the completion of the sale, the director directly owned 48,883 shares of the company’s stock, valued at approximately $1,268,025.02. This trade represents a 9.28% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 388,649 shares of company stock valued at $11,377,807. Company insiders own 16.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WRBY shares. Bank of America initiated coverage on shares of Warby Parker in a research report on Monday, June 29th. They set a “buy” rating and a $33.00 target price for the company. Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. BTIG Research lifted their target price on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, 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 report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $29.82.

Warby Parker Stock Performance

Shares of WRBY opened at $27.62 on Friday. The firm has a market cap of $2.96 billion, a PE ratio of 1,381.89, a price-to-earnings-growth ratio of 5.58 and a beta of 1.91. Warby Parker Inc. has a 52-week low of $14.96 and a 52-week high of $31.00. The business’s 50 day moving average price is $26.77 and its two-hundred day moving average price is $25.03.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data 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 analyst estimates of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. Research analysts predict that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.

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.