Zweig DiMenna Associates LLC Boosts Stake in Warby Parker Inc. (NYSE:WRBY)

Zweig DiMenna Associates LLC grew its position in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 57.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 507,450 shares of the company's stock after purchasing an additional 184,700 shares during the quarter. Zweig DiMenna Associates LLC owned about 0.51% of Warby Parker worth $8,287,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. boosted its position in shares of Warby Parker by 113.3% during the 2nd 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 in the last quarter. Marshall Wace LLP lifted its stake in 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 buying an additional 1,295,136 shares during the period. TimesSquare Capital Management LLC boosted its holdings 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 worth $22,970,000 after buying an additional 1,011,030 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Warby Parker by 7.7% during 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 increased its stake in shares of Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company's stock valued at $25,192,000 after acquiring an additional 481,900 shares in the last quarter. Institutional investors own 93.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JMP Securities upgraded shares of Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 price objective on the stock in a report on Friday, August 23rd. Piper Sandler initiated coverage on Warby Parker in a report on Friday, August 23rd. They issued an "overweight" rating and a $18.00 price target on the stock. The Goldman Sachs Group raised Warby Parker from a "neutral" rating to a "buy" rating and upped their target price for the stock from $15.00 to $18.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a "neutral" rating to a "buy" rating and lifted their price target for the company from $15.00 to $18.00 in a research report on Monday. Finally, Loop Capital raised their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the company a "hold" rating in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Warby Parker presently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Insider Activity

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the sale, the chief financial officer now directly owns 177,488 shares of the company's stock, valued at $2,467,083.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Warby Parker news, Director Bradley E. Singer purchased 50,000 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the purchase, the director now owns 100,000 shares of the company's stock, valued at $1,300,000. This represents a 100.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the transaction, the chief financial officer now owns 177,488 shares of the company's stock, valued at $2,467,083.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,178 shares of company stock valued at $1,339,901 in the last three months. Company insiders own 26.55% of the company's stock.

Warby Parker Trading Down 0.2 %

Shares of WRBY stock traded down $0.04 during trading on Friday, hitting $17.12. The company's stock had a trading volume of 1,114,944 shares, compared to its average volume of 1,398,825. The business has a fifty day moving average of $15.22 and a 200-day moving average of $15.17. The company has a market cap of $1.72 billion, a PE ratio of -44.00 and a beta of 1.82. Warby Parker Inc. has a 52 week low of $9.83 and a 52 week high of $18.37.

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

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.