Bank of New York Mellon Corp Boosts Position in Warby Parker Inc. (NYSE:WRBY)

Bank of New York Mellon Corp lifted its stake in Warby Parker Inc. (NYSE:WRBY - Free Report) by 14.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 807,272 shares of the company's stock after purchasing an additional 104,360 shares during the quarter. Bank of New York Mellon Corp owned about 0.81% of Warby Parker worth $12,965,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WRBY. Vanguard Group Inc. increased its stake in shares of Warby Parker by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company's stock worth $118,095,000 after acquiring an additional 219,120 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Warby Parker by 113.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company's stock worth $39,787,000 after purchasing an additional 1,315,672 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in Warby Parker by 149.4% during the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company's stock worth $22,970,000 after purchasing an additional 1,011,030 shares during the period. Jennison Associates LLC boosted its holdings in Warby Parker by 17.2% in the 1st quarter. Jennison Associates LLC now owns 1,000,138 shares of the company's stock valued at $13,612,000 after purchasing an additional 146,697 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Warby Parker by 55.1% in the 4th quarter. Verition Fund Management LLC now owns 722,179 shares of the company's stock valued at $10,183,000 after purchasing an additional 256,618 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Insiders Place Their Bets

In related news, Director Bradley E. Singer purchased 50,000 shares of the business's stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at $1,300,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bradley E. Singer purchased 50,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company's stock, valued at approximately $1,300,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven Clive Miller sold 99,816 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $16.61, for a total transaction of $1,657,943.76. Following the completion of the sale, the chief financial officer now directly owns 173,012 shares in the company, valued at $2,873,729.32. The disclosure for this sale can be found here. Insiders sold a total of 5,607,212 shares of company stock worth $87,908,573 over the last 90 days. Corporate insiders own 26.55% of the company's stock.

Warby Parker Stock Up 6.3 %

NYSE WRBY traded up $0.82 during trading on Monday, hitting $13.92. The stock had a trading volume of 1,862,308 shares, compared to its average volume of 1,390,705. The company has a market capitalization of $1.40 billion, a PE ratio of -29.62 and a beta of 1.81. The firm has a 50 day moving average price of $15.10 and a 200 day moving average price of $14.53. Warby Parker Inc. has a twelve month low of $9.83 and a twelve month high of $17.95.

Warby Parker (NYSE:WRBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. The business had revenue of $188.22 million during the quarter, compared to analyst estimates of $186.89 million. On average, sell-side analysts anticipate that Warby Parker Inc. will post -0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WRBY shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $19.00 price target on shares of Warby Parker in a research report on Thursday, August 8th. JMP Securities upgraded Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 target price on the stock in a research report on Friday, August 23rd. Loop Capital increased their price target on Warby Parker from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Wednesday, July 10th. Piper Sandler started coverage on Warby Parker in a research report on Friday, August 23rd. They set an "overweight" rating and a $18.00 price objective for the company. Finally, Stifel Nicolaus upped their target price on shares of Warby Parker from $14.00 to $15.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $17.11.

Warby Parker Company Profile

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.