TD Asset Management Inc Reduces Holdings in Warby Parker Inc. (NYSE:WRBY)

TD Asset Management Inc lowered its holdings in shares of Warby Parker Inc. (NYSE:WRBY) by 31.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,098 shares of the company’s stock after selling 37,070 shares during the period. TD Asset Management Inc owned about 0.08% of Warby Parker worth $1,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in shares of Warby Parker by 79.9% during the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after acquiring an additional 2,276 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of Warby Parker during the first quarter worth about $145,000. Victory Capital Management Inc. acquired a new position in shares of Warby Parker in the fourth quarter valued at approximately $160,000. Principal Financial Group Inc. purchased a new position in shares of Warby Parker during the first quarter valued at approximately $158,000. Finally, LVW Advisors LLC acquired a new stake in Warby Parker during the second quarter worth approximately $201,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Wall Street Analysts Forecast Growth

WRBY has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Loop Capital upped their target price on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 price target on shares of Warby Parker in a research note on Thursday, August 8th. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday, August 23rd. Finally, Piper Sandler initiated coverage on shares of Warby Parker in a report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective on the stock. Four equities 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.11.

Warby Parker Stock Performance

WRBY opened at $14.65 on Friday. Warby Parker Inc. has a 1 year low of $9.83 and a 1 year high of $17.95. The firm has a 50 day moving average price of $14.95 and a 200 day moving average price of $14.53. The company has a market cap of $1.47 billion, a PE ratio of -31.17 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 company had revenue of $188.22 million during the quarter, compared to analyst estimates of $186.89 million. On average, sell-side analysts predict that Warby Parker Inc. will post -0.04 earnings per share for the current year.

Insider Activity at Warby Parker

In related news, Director Bradley E. Singer acquired 50,000 shares of Warby Parker 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 completion of the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $1,300,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Bradley E. Singer acquired 50,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were 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. The disclosure for this sale can be found here. In the last three months, insiders sold 99,178 shares of company stock worth $1,339,901. Corporate insiders own 26.55% of the company’s stock.

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.