Wayfair Inc. $W Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in Wayfair Inc. (NYSE:W) by 8.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,972,425 shares of the company’s stock after selling 434,900 shares during the period. Wayfair makes up 0.6% of Renaissance Technologies LLC’s investment portfolio, making the stock its 14th largest holding. Renaissance Technologies LLC’s holdings in Wayfair were worth $373,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in W. Webster Bank N. A. acquired a new position in shares of Wayfair during the fourth quarter worth about $30,000. V Square Quantitative Management LLC acquired a new stake in Wayfair in the fourth quarter valued at about $33,000. Piper Sandler & CO. acquired a new stake in Wayfair in the fourth quarter valued at about $34,000. Havemeyer Place LP acquired a new stake in Wayfair in the fourth quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Wayfair by 393.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 819 shares of the company’s stock valued at $42,000 after purchasing an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

Wall Street Analysts Forecast Growth

W has been the topic of several recent analyst reports. Guggenheim reiterated a “buy” rating and set a $100.00 target price on shares of Wayfair in a research report on Wednesday, May 20th. Zacks Research cut Wayfair from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Canaccord Genuity Group decreased their price target on Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Citigroup dropped their price objective on Wayfair from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group set a $79.00 price objective on Wayfair in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Wayfair currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.36.

Wayfair Trading Up 1.6%

Shares of NYSE W opened at $84.01 on Friday. The company’s 50-day moving average price is $81.25 and its 200 day moving average price is $83.09. Wayfair Inc. has a 52 week low of $55.60 and a 52 week high of $119.98. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of -35.90, a PEG ratio of 4.58 and a beta of 2.96.

Wayfair (NYSE:W) last announced its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. As a group, research analysts expect that Wayfair Inc. will post 0.6 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 5,925 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $96.29, for a total transaction of $570,518.25. Following the completion of the transaction, the insider directly owned 117,344 shares of the company’s stock, valued at $11,299,053.76. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.44% of the stock is currently owned by company insiders.

Wayfair Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.