Alyeska Investment Group L.P. Sells 683,651 Shares of Wayfair Inc. (NYSE:W)

Alyeska Investment Group L.P. cut its stake in Wayfair Inc. (NYSE:W - Free Report) by 49.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 698,707 shares of the company's stock after selling 683,651 shares during the quarter. Alyeska Investment Group L.P. owned about 0.56% of Wayfair worth $30,967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. J.Safra Asset Management Corp raised its holdings 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 purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Wayfair by 577.0% during the 4th quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock valued at $26,000 after acquiring an additional 502 shares during the period. GAMMA Investing LLC boosted its stake in Wayfair by 65.5% during the fourth quarter. GAMMA Investing LLC now owns 710 shares of the company's stock worth $31,000 after acquiring an additional 281 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Wayfair in the fourth quarter worth about $41,000. Finally, Venturi Wealth Management LLC purchased a new stake in Wayfair in the fourth quarter worth about $45,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Wayfair Trading Up 8.1 %

Shares of W stock opened at $33.76 on Friday. Wayfair Inc. has a 12 month low of $20.41 and a 12 month high of $76.18. The stock has a market cap of $4.28 billion, a P/E ratio of -8.40 and a beta of 2.93. The company has a 50 day simple moving average of $31.32 and a two-hundred day simple moving average of $40.75.

Wayfair (NYSE:W - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.24. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the business posted ($0.32) earnings per share. Wayfair's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts forecast that Wayfair Inc. will post -2.54 earnings per share for the current year.

Insider Activity

In other news, insider Steven Conine sold 30,000 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Fiona Tan sold 23,835 shares of Wayfair stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the sale, the chief technology officer now directly owns 111,128 shares in the company, valued at $3,547,205.76. This trade represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,863 shares of company stock valued at $3,393,929 in the last ninety days. Corporate insiders own 21.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on W shares. BMO Capital Markets boosted their price target on Wayfair from $50.00 to $55.00 and gave the stock a "market perform" rating in a research report on Friday, February 21st. UBS Group cut their target price on Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group lowered their price target on Wayfair from $50.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler set a $58.00 price objective on shares of Wayfair and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Wayfair in a report on Thursday. Fourteen analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Wayfair presently has an average rating of "Moderate Buy" and a consensus target price of $48.79.

Wayfair 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.

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