Blueshift Asset Management LLC Takes Position in Wayfair Inc. (NYSE:W)

Blueshift Asset Management LLC bought a new position in shares of Wayfair Inc. (NYSE:W) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,338 shares of the company’s stock, valued at approximately $281,000.

Several other hedge funds have also added to or reduced their stakes in the company. J.Safra Asset Management Corp boosted its holdings in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after purchasing an additional 244 shares during the period. Jones Financial Companies Lllp raised its position in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock valued at $26,000 after buying an additional 502 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Wayfair by 65.5% in the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock valued at $31,000 after buying an additional 281 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wayfair during the third quarter worth approximately $44,000. Finally, Brooklyn Investment Group acquired a new stake in Wayfair during the third quarter worth approximately $50,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,521 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $46.88, for a total transaction of $211,944.48. Following the transaction, the insider now directly owns 63,568 shares in the company, valued at approximately $2,980,067.84. This represents a 6.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the completion of the sale, the insider now owns 589,073 shares of the company’s stock, valued at $28,540,586.85. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,189 shares of company stock worth $4,810,693 over the last three months. 26.81% of the stock is owned by company insiders.

Wayfair Trading Up 6.7 %

Shares of W stock opened at $33.67 on Friday. Wayfair Inc. has a 1-year low of $29.68 and a 1-year high of $76.18. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of -8.37 and a beta of 3.44. The stock has a 50-day moving average of $41.99 and a 200-day moving average of $45.47.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01). The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.07 billion. Sell-side analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on W. Royal Bank of Canada cut their target price on Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Bank of America cut their price objective on shares of Wayfair from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a report on Thursday, December 19th. Jefferies Financial Group raised shares of Wayfair from a “hold” rating to a “buy” rating and upped their price target for the stock from $45.00 to $47.00 in a report on Friday, March 7th. Finally, Piper Sandler set a $58.00 price objective on shares of Wayfair and gave the company an “overweight” rating in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.81.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.