Jennison Associates LLC Makes New $12.03 Million Investment in Warby Parker Inc. (NYSE:WRBY)

Jennison Associates LLC bought a new position in shares of Warby Parker Inc. (NYSE:WRBY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 853,441 shares of the company’s stock, valued at approximately $12,034,000. Jennison Associates LLC owned approximately 0.87% of Warby Parker as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its stake in Warby Parker by 0.5% in the third quarter. FMR LLC now owns 9,277,969 shares of the company’s stock valued at $122,098,000 after buying an additional 43,601 shares during the last quarter. Vanguard Group Inc. raised its position in Warby Parker by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,850,634 shares of the company’s stock valued at $103,314,000 after purchasing an additional 219,160 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Warby Parker by 6.3% during the 4th quarter. Baillie Gifford & Co. now owns 6,430,452 shares of the company’s stock worth $90,669,000 after purchasing an additional 378,781 shares during the period. Scopia Capital Management LP grew its position in Warby Parker by 781.3% during the 3rd quarter. Scopia Capital Management LP now owns 1,590,744 shares of the company’s stock worth $20,934,000 after purchasing an additional 1,410,243 shares during the last quarter. Finally, Rock Springs Capital Management LP increased its stake in Warby Parker by 18.9% in the third quarter. Rock Springs Capital Management LP now owns 1,575,000 shares of the company’s stock valued at $20,727,000 after purchasing an additional 250,000 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Stock Performance

NYSE:WRBY opened at $12.75 on Friday. The firm has a 50-day moving average price of $12.98 and a two-hundred day moving average price of $12.88. Warby Parker Inc. has a twelve month low of $9.83 and a twelve month high of $16.49.

Warby Parker (NYSE:WRBY) last posted its earnings results on Wednesday, February 28th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The company had revenue of $161.86 million during the quarter, compared to analysts’ expectations of $161.01 million. Warby Parker had a negative net margin of 9.44% and a negative return on equity of 16.36%. On average, equities analysts anticipate that Warby Parker Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO David Abraham Gilboa sold 52,065 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.20, for a total transaction of $635,193.00. Following the transaction, the chief executive officer now owns 12,306 shares of the company’s stock, valued at $150,133.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO David Abraham Gilboa sold 52,065 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.20, for a total transaction of $635,193.00. Following the transaction, the chief executive officer now directly owns 12,306 shares in the company, valued at approximately $150,133.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 8,708 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total value of $103,451.04. Following the sale, the chief financial officer now owns 191,104 shares of the company’s stock, valued at $2,270,315.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,084 shares of company stock worth $1,074,979. 26.91% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 price target on shares of Warby Parker in a report on Wednesday, February 28th. Morgan Stanley lifted their target price on Warby Parker from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Warby Parker currently has a consensus rating of “Hold” and an average price target of $16.29.

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.