Atreides Management LP Acquires 16,474 Shares of Wayfair Inc. $W

Atreides Management LP boosted its holdings in Wayfair Inc. (NYSE:W) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 870,864 shares of the company’s stock after acquiring an additional 16,474 shares during the quarter. Wayfair accounts for approximately 1.1% of Atreides Management LP’s investment portfolio, making the stock its 21st biggest holding. Atreides Management LP owned 0.67% of Wayfair worth $87,443,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Webster Bank N. A. bought a new position in Wayfair in the 4th quarter valued at about $30,000. V Square Quantitative Management LLC bought a new position in Wayfair in the 4th quarter valued at about $33,000. Havemeyer Place LP bought a new position in Wayfair in the 4th quarter valued at about $39,000. Kestra Advisory Services LLC bought a new position in Wayfair in the 4th quarter valued at about $44,000. Finally, True Wealth Design LLC lifted its position in Wayfair by 37.7% in the 4th quarter. True Wealth Design LLC now owns 449 shares of the company’s stock valued at $45,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 89.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. TD Cowen decreased their price objective on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. UBS Group decreased their price objective on shares of Wayfair from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Truist Financial set a $99.00 price objective on shares of Wayfair in a research note on Monday, June 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $125.00 price objective on shares of Wayfair in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Wayfair presently has an average rating of “Moderate Buy” and an average target price of $99.68.

Insider Buying and Selling

In related news, insider Jon Blotner sold 4,790 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total value of $345,790.10. Following the completion of the transaction, the insider directly owned 111,158 shares of the company’s stock, valued at approximately $8,024,496.02. This trade represents a 4.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the completion of the transaction, the chief executive officer directly owned 435,274 shares of the company’s stock, valued at approximately $33,729,382.26. This trade represents a 20.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 463,785 shares of company stock valued at $35,864,224. Company insiders own 18.44% of the company’s stock.

Wayfair Stock Down 1.9%

Shares of W stock opened at $81.62 on Thursday. The company has a 50 day moving average of $71.17 and a 200-day moving average of $84.94. Wayfair Inc. has a 12-month low of $47.21 and a 12-month high of $119.98. The firm has a market cap of $10.77 billion, a P/E ratio of -34.88, a PEG ratio of 4.37 and a beta of 3.02.

Wayfair (NYSE:W) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. Wayfair’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. As a group, equities analysts expect that Wayfair Inc. will post 0.63 EPS for the current year.

Wayfair Company 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.