Billionaire Daniel Sundheim’s Portfolio: 5 New Stock Picks

3. Warby Parker Inc. (NYSE:WRBY)

D1 Capital Partners’ Stake Value: $432,521,000

Percentage of D1 Capital Partners’ 13F Portfolio: 2.41%

Number of Hedge Fund Holders: 12

Daniel Sundheim, via D1 Capital Partners, purchased 8.15 million Warby Parker Inc. (NYSE:WRBY) shares, worth $432.5 million, representing 2.41% of the firm’s Q3 portfolio. Warby Parker Inc. (NYSE:WRBY) is an online retailer from the United States, selling prescription glasses and sunglasses. 

On November 12, Warby Parker Inc. (NYSE:WRBY) announced its Q3 earnings. The company posted an EPS of $0.02, exceeding estimates by $0.24. The quarterly revenue totaled $137.37 million, beating estimates by $4.28 million. 

Loop Capital analyst Anthony Chukumba on December 10 lowered the price target on Warby Parker Inc. (NYSE:WRBY) to $52 from $60 and kept a Hold rating on the shares, citing the rising inflation, which may negatively impact the valuations for high growth companies like Warby Parker Inc. (NYSE:WRBY). 

Chase Coleman’s Tiger Global Management is the largest Warby Parker Inc. (NYSE:WRBY) stakeholder, with 15.1 million shares worth $802.7 million. Overall, 12 hedge funds were long Warby Parker Inc. (NYSE:WRBY) in Q3, with stakes totaling $1.41 billion.