272 Capital LP Purchases 5,965 Shares of Wayfair Inc. (NYSE:W)

272 Capital LP grew its position in shares of Wayfair Inc. (NYSE:W) by 15.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,053 shares of the company’s stock after acquiring an additional 5,965 shares during the period. Wayfair comprises 1.3% of 272 Capital LP’s portfolio, making the stock its 29th largest position. 272 Capital LP’s holdings in Wayfair were worth $2,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC raised its stake in shares of Wayfair by 18.1% during the third quarter. Tidal Investments LLC now owns 21,665 shares of the company’s stock valued at $1,217,000 after acquiring an additional 3,320 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Wayfair by 16.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 147,436 shares of the company’s stock valued at $8,283,000 after buying an additional 20,884 shares during the period. Geode Capital Management LLC increased its position in shares of Wayfair by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,524,854 shares of the company’s stock valued at $85,690,000 after buying an additional 35,268 shares during the period. Groupama Asset Managment increased its position in shares of Wayfair by 100.0% during the third quarter. Groupama Asset Managment now owns 1,000,000 shares of the company’s stock valued at $56,180,000 after buying an additional 500,000 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Wayfair during the third quarter valued at about $4,418,000. 89.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

W has been the topic of several research analyst reports. Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. BMO Capital Markets reduced their price target on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus cut their price objective on shares of Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a report on Friday, November 1st. Finally, Royal Bank of Canada cut their price objective on shares of Wayfair from $53.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wayfair has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.

Wayfair Price Performance

Shares of NYSE W opened at $56.03 on Friday. The firm has a fifty day moving average price of $47.00 and a 200-day moving average price of $49.12. The stock has a market cap of $7.02 billion, a PE ratio of -11.86 and a beta of 3.44. Wayfair Inc. has a 1 year low of $37.35 and a 1 year high of $76.18.

Wayfair (NYSE:W) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.87 billion. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period last year, the company earned ($1.38) earnings per share. On average, research analysts expect that Wayfair Inc. will post -2.91 EPS for the current year.

Insider Activity at Wayfair

In other Wayfair news, insider Jon Blotner sold 4,600 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares in the company, valued at $2,791,380.80. This trade represents a 8.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kate Gulliver sold 7,330 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at $6,257,088.35. This trade represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,868 shares of company stock valued at $4,866,748. Corporate insiders own 26.81% of the company’s stock.

About Wayfair

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.