Landscape Capital Management L.L.C. Increases Holdings in Warby Parker Inc. $WRBY

Key Points

• Landscape Capital Management L.L.C. increased its stake in Warby Parker by 14.9%, acquiring an additional 12,290 shares, reaching a total of 94,846 shares valued at approximately $1.73 million.
• Insider selling included the CEO, Neil Harris Blumenthal, who sold 50,000 shares worth around $1.26 million, decreasing his ownership by 63.82%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Warby Parker, with a price target of $24.06.

Landscape Capital Management L.L.C. increased its holdings in Warby Parker Inc. (NYSE:WRBY - Free Report) by 14.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,846 shares of the company's stock after acquiring an additional 12,290 shares during the quarter. Landscape Capital Management L.L.C. owned about 0.09% of Warby Parker worth $1,729,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mission Creek Capital Partners Inc. purchased a new position in shares of Warby Parker during the first quarter valued at about $1,597,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Warby Parker by 266.1% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 82,000 shares of the company's stock worth $1,495,000 after acquiring an additional 59,600 shares during the period. Ieq Capital LLC grew its holdings in shares of Warby Parker by 113.4% during the 1st quarter. Ieq Capital LLC now owns 29,643 shares of the company's stock worth $540,000 after acquiring an additional 15,749 shares during the period. Hershey Trust Co. purchased a new position in shares of Warby Parker in the 1st quarter valued at approximately $1,167,000. Finally, Jump Financial LLC boosted its position in shares of Warby Parker by 96.9% during the first quarter. Jump Financial LLC now owns 386,783 shares of the company's stock valued at $7,051,000 after purchasing an additional 190,383 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on WRBY shares. Roth Capital set a $24.00 target price on shares of Warby Parker and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. UBS Group reaffirmed a "neutral" rating and set a $23.00 target price (up previously from $20.00) on shares of Warby Parker in a research note on Friday, August 8th. JMP Securities restated a "market perform" rating on shares of Warby Parker in a research note on Thursday, July 10th. Evercore ISI reissued a "positive" rating on shares of Warby Parker in a report on Thursday, August 7th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $25.00 price target (up previously from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Warby Parker has a consensus rating of "Moderate Buy" and a consensus target price of $24.06.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total value of $1,255,500.00. Following the transaction, the chief executive officer directly owned 28,347 shares of the company's stock, valued at approximately $711,793.17. This trade represents a 63.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 6,000 shares of Warby Parker stock in a transaction on Monday, August 11th. The shares were sold at an average price of $23.56, for a total value of $141,360.00. Following the transaction, the director owned 44,879 shares in the company, valued at $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 106,000 shares of company stock worth $2,607,280. 18.24% of the stock is owned by corporate insiders.

Warby Parker Trading Down 0.3%

WRBY stock traded down $0.08 on Wednesday, hitting $25.47. The company had a trading volume of 233,455 shares, compared to its average volume of 2,183,113. Warby Parker Inc. has a 12-month low of $12.69 and a 12-month high of $29.73. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -364.02 and a beta of 2.10. The stock's 50-day simple moving average is $24.17 and its 200 day simple moving average is $21.01.

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.