81,924 Shares in Warby Parker Inc. $WRBY Purchased by Granahan Investment Management LLC

Granahan Investment Management LLC purchased a new stake in Warby Parker Inc. (NYSE:WRBY) during the 1st quarter, Holdings Channel.com reports. The fund purchased 81,924 shares of the company’s stock, valued at approximately $1,726,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Corp lifted its position 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 acquiring an additional 595 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Warby Parker in the fourth quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its holdings 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 purchasing an additional 494 shares during the period. Parallel Advisors LLC raised its stake in shares of Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after purchasing an additional 965 shares during the last quarter. Finally, Covestor Ltd raised its stake 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 purchasing an additional 2,492 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on WRBY. Weiss Ratings upgraded shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Citigroup restated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Bank of America initiated coverage on shares of Warby Parker in a research note on Monday, June 29th. They issued a “buy” rating and a $33.00 target price for the company. UBS Group lifted their target price on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, BTIG Research boosted their price target 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. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.82.

Warby Parker Price Performance

Warby Parker stock opened at $24.52 on Friday. Warby Parker Inc. has a 1-year low of $14.96 and a 1-year high of $31.00. The company has a market cap of $2.63 billion, a PE ratio of 1,226.86, a price-to-earnings-growth ratio of 4.91 and a beta of 1.91. The stock’s 50 day moving average price is $26.32 and its 200 day moving average price is $25.12.

Warby Parker (NYSE:WRBY) last released 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). Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The business had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. During the same quarter in the previous year, the company posted $0.03 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Warby Parker Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Warby Parker

In other news, Director Teresa Briggs sold 5,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total value of $129,700.00. Following the completion of the transaction, the director owned 48,883 shares in the company, valued at $1,268,025.02. This trade represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 20,167 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $28.51, for a total transaction of $574,961.17. Following the completion of the sale, the director owned 104,833 shares of the company’s stock, valued at $2,988,788.83. This trade represents a 16.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 366,207 shares of company stock valued at $10,814,738. Company insiders own 16.80% of the company’s stock.

Warby Parker Company 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.