MYDA Advisors LLC Invests $2.22 Million in Wayfair Inc. (NYSE:W)

MYDA Advisors LLC purchased a new position in Wayfair Inc. (NYSE:W) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 50,000 shares of the company’s stock, valued at approximately $2,216,000.

Other institutional investors also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp increased its position in Wayfair by 71.3% in the fourth quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock worth $26,000 after buying an additional 244 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares during the period. GAMMA Investing LLC increased its holdings in Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Wayfair in the 4th quarter valued at about $41,000. Finally, Venturi Wealth Management LLC purchased a new stake in Wayfair during the fourth quarter valued at about $45,000. Institutional investors own 89.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup downgraded shares of Wayfair from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $28.00 in a research note on Friday, April 4th. Royal Bank of Canada cut their price objective on shares of Wayfair from $50.00 to $43.00 and set a “sector perform” rating for the company in a report on Monday, February 24th. UBS Group lowered their target price on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Piper Sandler set a $58.00 price target on Wayfair and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, BMO Capital Markets boosted their price objective on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, February 21st. Sixteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wayfair has a consensus rating of “Hold” and a consensus target price of $52.92.

Insider Activity

In other Wayfair news, insider Steven Conine sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total transaction of $1,389,900.00. Following the completion of the transaction, the insider now owns 559,073 shares of the company’s stock, valued at $25,901,852.09. This represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Fiona Tan sold 23,835 shares of Wayfair stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.92, for a total value of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares in the company, valued at approximately $3,547,205.76. This represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,863 shares of company stock valued at $4,847,429. Insiders own 21.91% of the company’s stock.

Wayfair Price Performance

Shares of W opened at $26.58 on Friday. The firm has a market cap of $3.37 billion, a P/E ratio of -6.61 and a beta of 3.72. Wayfair Inc. has a 1 year low of $20.41 and a 1 year high of $76.18. The stock has a 50 day simple moving average of $34.55 and a two-hundred day simple moving average of $42.49.

Wayfair (NYSE:W) last released its earnings results on Thursday, February 20th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01). The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.07 billion. On average, equities analysts anticipate that Wayfair Inc. will post -2.54 earnings per share for the current year.

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.