Landscape Capital Management L.L.C. Sells 113,605 Shares of Warby Parker Inc. (NYSE:WRBY)

Landscape Capital Management L.L.C. cut its holdings in shares of Warby Parker Inc. (NYSE:WRBY - Free Report) by 57.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,556 shares of the company's stock after selling 113,605 shares during the quarter. Landscape Capital Management L.L.C. owned 0.08% of Warby Parker worth $1,999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new position in Warby Parker in the fourth quarter worth approximately $25,000. Jones Financial Companies Lllp lifted its position in shares of Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock worth $37,000 after purchasing an additional 1,028 shares during the last quarter. KBC Group NV boosted its position in shares of Warby Parker by 39.3% in the fourth quarter. KBC Group NV now owns 4,743 shares of the company's stock valued at $115,000 after acquiring an additional 1,339 shares during the period. Cibc World Markets Corp acquired a new stake in Warby Parker in the 4th quarter worth $201,000. Finally, Thrivent Financial for Lutherans acquired a new position in Warby Parker in the 3rd quarter valued at approximately $213,000. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Stock Performance

WRBY traded down $1.69 during trading on Thursday, reaching $14.84. 1,054,522 shares of the stock were exchanged, compared to its average volume of 1,689,849. The stock's 50 day moving average price is $21.63 and its two-hundred day moving average price is $21.62. Warby Parker Inc. has a twelve month low of $11.66 and a twelve month high of $28.68. The stock has a market cap of $1.54 billion, a P/E ratio of -55.24 and a beta of 2.00.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 27,967 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $657,783.84. Following the transaction, the chief executive officer now directly owns 23,961 shares in the company, valued at approximately $563,562.72. This represents a 53.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven Clive Miller sold 11,684 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the sale, the chief financial officer now directly owns 204,727 shares of the company's stock, valued at $4,815,179.04. This represents a 5.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,651 shares of company stock worth $2,313,092. Company insiders own 26.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their price objective on Warby Parker from $17.00 to $23.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Telsey Advisory Group reaffirmed an "outperform" rating and set a $28.00 price objective on shares of Warby Parker in a report on Thursday, February 27th. UBS Group lifted their price objective on Warby Parker from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, February 28th. Robert W. Baird increased their price target on Warby Parker from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Finally, Evercore ISI reissued an "in-line" rating and issued a $23.00 target price on shares of Warby Parker in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $23.29.

Warby Parker Company 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.