AIA Group Ltd Boosts Stake in Warby Parker Inc. (NYSE:WRBY)

AIA Group Ltd raised its position in Warby Parker Inc. (NYSE:WRBY) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,573 shares of the company’s stock after purchasing an additional 19,923 shares during the quarter. AIA Group Ltd’s holdings in Warby Parker were worth $2,981,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in WRBY. SG Americas Securities LLC lifted its stake in Warby Parker by 610.3% during the 2nd quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock worth $1,471,000 after acquiring an additional 78,702 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Warby Parker by 302.0% during the first quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company’s stock worth $657,000 after purchasing an additional 36,245 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Warby Parker by 113.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock valued at $39,787,000 after purchasing an additional 1,315,672 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Warby Parker in the second quarter valued at approximately $1,465,000. Finally, Russell Investments Group Ltd. increased its stake in Warby Parker by 37.1% during the 1st quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock worth $3,067,000 after buying an additional 61,004 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Warby Parker

In other news, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares in the company, valued at approximately $2,395,263. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Steven Clive Miller sold 15,272 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the transaction, the chief financial officer now owns 184,251 shares of the company’s stock, valued at approximately $2,395,263. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $158,301. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 99,178 shares of company stock worth $1,339,901 in the last 90 days. 26.55% of the stock is owned by insiders.

Warby Parker Stock Performance

WRBY opened at $19.31 on Friday. The stock has a market capitalization of $1.94 billion, a P/E ratio of -49.51 and a beta of 1.80. Warby Parker Inc. has a one year low of $9.83 and a one year high of $19.60. The business’s 50-day simple moving average is $15.82 and its 200-day simple moving average is $15.50.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $188.22 million during the quarter, compared to analysts’ expectations of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. On average, equities research analysts forecast that Warby Parker Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Piper Sandler initiated coverage on Warby Parker in a report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price target on the stock. The Goldman Sachs Group upgraded Warby Parker from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.82.

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.