Maverick Capital Ltd. Invests $1.47 Million in Warby Parker Inc. (NYSE:WRBY)

Maverick Capital Ltd. purchased a new position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 91,207 shares of the company's stock, valued at approximately $1,465,000. Maverick Capital Ltd. owned about 0.09% of Warby Parker as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WRBY. Vaughan Nelson Investment Management L.P. lifted its holdings 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 valued at $39,787,000 after purchasing an additional 1,315,672 shares during the last quarter. Marshall Wace LLP raised its position in shares of Warby Parker by 1,013.4% in the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company's stock valued at $22,852,000 after purchasing an additional 1,295,136 shares during the period. TimesSquare Capital Management LLC lifted its stake in shares of Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company's stock valued at $22,970,000 after buying an additional 1,011,030 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Warby Parker by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company's stock worth $119,258,000 after buying an additional 607,352 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company's stock worth $25,192,000 after buying an additional 481,900 shares during the period. Institutional investors own 93.24% of the company's stock.

Warby Parker Stock Performance

WRBY traded down $0.06 on Friday, reaching $16.03. The company had a trading volume of 1,375,733 shares, compared to its average volume of 1,395,530. Warby Parker Inc. has a 52-week low of $9.83 and a 52-week high of $17.95. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -34.11 and a beta of 1.80. The business has a 50 day simple moving average of $14.76 and a 200 day simple moving average of $14.72.

Warby Parker (NYSE:WRBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share 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 firm had revenue of $188.22 million for the quarter, compared to analysts' expectations of $186.89 million. As a group, equities research analysts predict that Warby Parker Inc. will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 15,272 shares of the company's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares of the company's stock, valued at approximately $2,395,263. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Warby Parker 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 completion of the sale, the chief financial officer now owns 184,251 shares in the company, valued at $2,395,263. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradley E. Singer bought 50,000 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was purchased 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 disclosure for this purchase can be found here. Insiders have sold 99,178 shares of company stock worth $1,339,901 over the last 90 days. Corporate insiders own 26.55% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WRBY shares. 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. Stifel Nicolaus increased their price objective on Warby Parker from $14.00 to $15.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $19.00 target price on shares of Warby Parker in a report on Thursday, August 8th. Loop Capital increased their price target on shares of Warby Parker from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Wednesday, July 10th. Finally, Piper Sandler started coverage on shares of Warby Parker in a research note on Friday, August 23rd. They set an "overweight" rating and a $18.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.11.

Warby Parker 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.